Green Investment Bank

8th February 2017

I can quite understand the strong feelings that the Green Investment Bank should be kept in British hands if at all possible.  Bearing this in mind, my personal preference is for the Government to privatise it thus giving the public and employees the chance to own the business.

Although I was not particularly enamoured with the Green Investment Bank, especially when they decided against my advice to invest in the failed and discredited Saddlebow Incinerator, nevertheless, they did make some first class investments.  Also on balance, they have, I believe, made a positive contribution to encourage renewable energy and new technology across the Country.

This is why I do believe that every effort should be made to proceed with a flotation of the business on the Stock Exchange.  Furthermore, there should only be an attempt to sell the business to a foreign owner such as Macquarie if Plan A fails.  Unfortunately if it did get sold to someone like Macquarie, it would certainly lose its focus and its current unique ability to finance some of those green investments what would not otherwise find a supporter.