Wednesday 14 March 2018 / 9:59 AM Business / Rebecca Long Bailey

Green Investment Bank sale is further proof Tories cannot be trusted on the environment – Rebecca Long-Bailey

Rebecca Long Bailey MP, Shadow Secretary of State for Business, Energy and Industrial Strategy, commenting on the Public Account Committees report into the Green Investment Bank, said:

“This is further proof that the Tories cannot be trusted on the environment or the ability of British businesses to compete in the global low carbon and renewables market.

“Selling the Green Investment Bank reveals this Government is more interested in making a quick buck from the family silver than in driving innovation in environmental objectives.

“Last year Labour called upon the Government to stop the sale of the Green Investment Bank. The Government refused to listen, instead providing assurances that they would protect its green purposes by maintaining a golden share.

“As we made clear at the time, the sale and privatisation of the Green Investment Bank was wrong. A publicly owned institution and asset was lost and its original green objectives diluted.”