Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what assessment his Department has made of the effect of European Investment Bank funding on the UK's green industry.

The European Investment Bank, and its offshoot, the European Investment Fund, provide financing for infrastructure investment and growth businesses in a range of sectors including in the UK’s green industry, particularly renewable energy.

As set out in the joint report on progress during phase 1 of the negotiations, the government considers that there could be mutual benefit from a continuing arrangement between the UK and the EIB, and wishes to explore these possible arrangements in the second phase of negotiations.

The government is also continuing to take steps to ensure that finance continues to be available for good infrastructure projects and growth businesses: the UK Guarantees Scheme, which gives government support for private infrastructure finance, has been broadened to offer construction guarantees, and at Budget the Chancellor launched the Charging Infrastructure Investment Fund to support the transition to zero emission vehicles.