Wednesday 25 November 2015

Government to be questioned on GIB privatisation

The government is going to be questioned on the privatisation of the Green Investment Bank (GIB) tomorrow.

It is the second evidence session by the Environmental Audit Committee into the bank’s future.

It follows the government's announcement to part-privatise it and comes after laws governing the bank's green purposes were cancelled.

The Committee will hear from the Department for Business, Innovation and Skills on the rationale behind the plans and future prospects of the bank.

It will also take evidence from the Minister for Small Business, Industry and Enterprise Anna Soubry MP and the Executive Director at the Green Investment Bank Shareholder Team, Richard Callard.

Potential investors for the GIB will be asked to confirm their commitment to its green values.

The GIB invested £2 million in sewage heat recovery systems across Scotland earlier this year.