May 25th 2011
Government sets out Green Investment Bank vision but investors remain wary
Business secretary Vince Cable set out his vision for the Green Investment Bank on Tuesday 24 May. The Department of Business Innovation and Skills (BIS) has followed up the Deputy Prime Minister's announcement on the bank by publishing a progress report on the institution detailing the governance and business model that it will operate within. In the Commons Cable said the Bank could mobilise £15bn of private investment from the original £3bn the Government has promised. But the CBI has said that the institution must deliver more investor certainty in order to ensure commitment to low-carbon projects. CBI director general John Cridland said the Bank must be able to get into the markets itself and do what is required, rather than be restricted by the Treasury.
BIS--progress report BIS--oral statement CBI
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