Haven Power

Government should abandon GIB sale, former minister says

Government should abandon GIB sale, former minister says


Former climate change minister Lord Barker of Battle has called on the government to stop the sale of the Green Investment Bank (GIB). Media reports say that the bank is set to be sold to Macquarie for around £2bn, but that the company has already been in contact with potential buyers of the GIB’s assets. Writing on Twitter on Sunday 8 January, Lord Barker confirmed that he had written directly to prime minister Theresa May to call for a rethink on the sale of “this big Conservative success story”. Chancellor Philip Hammond should, he said, be told to halt the sale and to pass control of the GIB back to ministers at BEIS, who “have the right vision and grip, and understand its value”.