UK government shelves Green Investment plans.
source: http://www.ft.com/cms/s/0/6de6f75c-8f78-11df-8df0-00144feab49a.html
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After conflicts over how the green bank was going to be funded, the coalition government announced at a conference they are shelving the plans for Green industry investment.
It sounds like one plan was to use the sale of assets to fund the green bank, though from the article proposes the Treasury department is looking to use the funds to pay off debt.
The article also hints towards some comments which stated the green plans were part of the previous government, despite the coalition agreement stating the creation of a 'green investment bank' on page 16.
"He told an infrastructure conference run by City and Financial: “We are not pursuing it” and it is “not on the agenda of the current government”. Other Treasury officials indicated the idea might be revived when the government settles on plans for a green investment bank later in the year,
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James Wardlaw, head of public sector at Goldman Sachs and a member of the commission that produced a report for the Conservatives on how a green investment bank should operate, said there was “a broad political consensus that a green investment bank is a good thing”. "-Financial Times
It sounds like one plan was to use the sale of assets to fund the green bank, though from the article proposes the Treasury department is looking to use the funds to pay off debt.
The article also hints towards some comments which stated the green plans were part of the previous government, despite the coalition agreement stating the creation of a 'green investment bank' on page 16.
"He told an infrastructure conference run by City and Financial: “We are not pursuing it” and it is “not on the agenda of the current government”. Other Treasury officials indicated the idea might be revived when the government settles on plans for a green investment bank later in the year,
[...]
James Wardlaw, head of public sector at Goldman Sachs and a member of the commission that produced a report for the Conservatives on how a green investment bank should operate, said there was “a broad political consensus that a green investment bank is a good thing”. "-Financial Times
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