Mark Durkan
Main Page: Mark Durkan (Social Democratic & Labour Party - Foyle)Department Debates - View all Mark Durkan's debates with the HM Treasury
(13 years, 7 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Mr Osborne
I can assure my hon. Friend that I am planning a long-term relationship with Prudence.
Mark Durkan (Foyle) (SDLP)
Can the Chancellor assure us that the green investment bank will be active and accessible to all regions, including Northern Ireland, and that relevant projects will not be disqualified by virtue of having a cross-border character? That would be entirely appropriate, given our market and environmental context.
Mr Osborne
In my statement, I set aside £1 billion of direct Government funding for the green investment bank. That will, I hope, be the minimum sum. I also want to dispose of certain Government assets and put the money from those sales into the bank, but I wanted to provide a minimum of £1 billion in case those asset sales took longer to realise than we hoped. I also want to lever in private sector investment so that the bank is a very successful vehicle for helping all parts of the United Kingdom invest in green energy. I am very happy to consider the case for cross-border projects because, obviously, the economies of Ireland and Northern Ireland are very closely linked, and I will come back to the hon. Gentleman on that specific point.