Iain Wright MP, Labour’s Shadow Minister for Competitiveness and Enterprise, commenting on the announcement on the location of the Green Investment Bank, said:
“The Government has at last published the locations for the Green Investment Bank - but the lethargic way in which the Government is going about this process puts British firms at a significant competitive disadvantage. We need to have a sense of urgency if Britain is to win the global race in green technologies, allowing British firms to take advantage of the low carbon economy opportunities and to ensure that households are provided with help to green their homes and reduce both high energy bills and their carbon footprints.
“However the Green Investment Bank will not be fully operational and funded until 2016. It is little wonder that while the Government is dawdling, other countries like Germany and the Netherlands are stealing a march on us, meaning that Britain has slipped from 3rd to 13th in global investment in green technologies. To make the transition to a clean energy economy, the Government needs to show more energy in getting the Green Investment Bank up and running.”