Wednesday 25 May 2011

Bring GIB to Scotland without delay

The best home for the Green Investment Bank would be Scotland claimed Edinburgh West MP Mike Crockart. During an exchange with the Business Secretary Mr Crockart said the case for it to be north of the border was clear and dallying would only confuse matters.

He told the Commons: "Can I urge him [the Secretary of State] to set a clear timescale for when a decision on the location of the bank will actually be made? My fear is that once the bank is being incubated... its location may be decided more by inertia, rather than by examination of the excellent business cases which have already been presented to him, such as the one by Edinburgh."

Responding, Vince Cable said: "There will be a proper process, and it's important that we consider all serious applications upon their merits carefully, and I'd like to commend him and his colleagues in Edinburgh for the high level of professionalism which they brought to bear on their own application. They've met with my departmental officials, they've met with me, and have taken great interest in this, and I commend their approach to it."

Afterwards Mr Crockart added: "I see no other city in the UK that can match the unique blend of assets which Edinburgh has - an established financial centre with a wealth of experience in project finance, surrounded by centres of innovative academic research, and this situated in one of Europe's best climates for exploiting renewable energy. Edinburgh's bid will be hard to beat, and it is clear the Secretary of State is taking it very seriously."