Green Investment Bank

Sammy Wilson Excerpts
Wednesday 11th January 2017

(7 years, 4 months ago)

Commons Chamber
Read Full debate Read Hansard Text Read Debate Ministerial Extracts

Urgent Questions are proposed each morning by backbench MPs, and up to two may be selected each day by the Speaker. Chosen Urgent Questions are announced 30 minutes before Parliament sits each day.

Each Urgent Question requires a Government Minister to give a response on the debate topic.

This information is provided by Parallel Parliament and does not comprise part of the offical record

Nick Hurd Portrait Mr Hurd
- Hansard - - - Excerpts

The hon. Lady has made her point, and she will know what point I am going to make. I cannot possibly comment on the identity of any bidder at this stage.

Sammy Wilson Portrait Sammy Wilson (East Antrim) (DUP)
- Hansard - -

Does the Minister agree that, if green investments are as profitable, sound and attractive as their supporters have claimed in the House today, there should be no concern about the introduction of private finance for such projects? Indeed, given the pressure on the public purse at the moment, is he not surprised that the House is not welcoming another source of funding for these activities?

Nick Hurd Portrait Mr Hurd
- Hansard - - - Excerpts

The hon. Gentleman makes an important point about the increased attractiveness of investment in renewable energy and low-carbon infrastructure. Governments in the UK and around the world have helped to facilitate that investment over the years and have seen dramatic falls in the cost of those technologies and the cost of the capital attached to them, making them a more investable proposition. This helps to reinforce our argument that this is the right time to liberate the GIB from state control to enable it to play a bigger part in the market.