Green Investment Bank

The bank will not be able to borrow, because it is at too early a stage—it does not have the cash...

I disagree, because of the bank’s financial track record so far. We are talking about a policy de...

I agree with what the hon. Gentleman is saying. Does he think we could learn from some of the Eur...

I thank the hon. Lady for her remarks. I wonder whether she agrees that, in future, state-backed ...

rose—

Order. If Members wish to speak, they will need to indicate that by standing. Philip Boswell is s...

Thank you, Mr Crausby. I also thank the previous speakers for their contributions to the importan...

I apologise to the House because earlier on I should have declared an interest in that a relative...

I thank my hon. Friend for his intervention. I agree that it is vital not to view the bank in the...

The hon. Gentleman is making a strong case. Does he agree that there is a real irony that at the ...

The hon. Lady is absolutely right. If it’s not broke, why are we fixing it?

Moreover, priva...

Thank you, Mr Crausby, for giving me the novel opportunity of winding up from the Front Bench. I ...

The hon. Gentleman makes two very good points: that if it ain’t broke, we should not fix it, and ...

Having spoken to the chief executive I totally concur. The bank wants the facility to borrow more...

We may or may not hear from the Minister today about whether there has been an evolution in Gover...

The hon. Gentleman could not have made the case better. He has more chance of convincing the Chan...

Does the hon. Gentleman agree that another way in which we are cutting off our nose to spite our ...

I am hesitant to stray too far, as I am sure you would stop us having a general debate about capi...

In Scotland we are developing a clean and green image. We are working well with the Scottish Futu...

Indeed. The success of the Green Investment Bank has been in creating partnerships and a model of...

Given what my hon. Friend just said, does he share my concerns about the possible impact of this ...

I absolutely agree. Underlining the achievement of the climate change targets is a vast capital i...

That was a rather brilliant exposition of the issue. What the honest broker role is and why it is...

The hon. Gentleman adds immeasurably to my contribution. Trust is a limited commodity, but in a s...

It has been an extremely high-quality debate and I will attempt, in my half of the one hour and 5...

Does my hon. Friend agree that the Government’s proposals on the Green Investment Bank seem to go...

Yes, I agree. I am tempted to quote Kermit the Frog, who said, “It’s not easy bein’ green.” It is...

It is touching to see the hon. Gentleman paying such tribute to this creation of a Conservative-l...

I have known the hon. Gentleman for a long time. All I will say is that he has let himself down s...

Without wanting to take this too much further, I should say that I do not think it was Luxembourg...

You were doing so well.

We were indeed, Mr Crausby. All I will say is this. The notion that, had the Conservatives carrie...

We have time. Will the hon. Gentleman give way again?

I will give way one last time on that point.

The hon. Gentleman is extremely generous. A little partisanship does not go amiss. It is importan...

rose—

Convention requires me to respond to the intervention from the hon. Member for Beverley and Holde...

I am sorry that we are descending into partisanship, but as we are kind of there, I just point ou...

That is right. We have all read the reports about the confusion of the international community ah...

On that point, will the hon. Gentleman give way?

I will.

It’s all my fault.

It is indeed the fault of my hon. Friend; we can all agree on that at least.

We have the Cl...

If it was the fault of the hon. Member for Beverley and Holderness that we descended into partisa...

I want to touch on my hon. Friend’s point about good investment. What we need to look at is this....

My hon. Friend will not be surprised to learn that I agree with that point. In relation to wave p...

I agree with everything that my hon. Friend the Member for Norwich South (Clive Lewis) said. My h...

I most certainly will. I am sure that my hon. Friend will lend me his copy so that I can do that ...

It is contentment.

I do not want to tempt the hon. Gentleman out of his contentment. What advice were Ministers give...

The hon. Gentleman raises an issue that has been raised since SNP Members first arrived in the Ho...

That is a legitimate concern to raise. At a reception the other evening, I heard a BIS Minister d...

The hon. Gentleman may remember that the one form of energy the bank was specifically banned from...

The hon. Gentleman is right: that was the ruling in relation to state aid. For what it is worth, ...

My hon. Friend talked about sending the wrong signals. There is a growing global divestment movem...

Again, my hon. Friend makes an important and appropriate intervention—I can see why he has taken ...

It is a great pleasure to serve under your chairmanship, Mr Percy. We started the debate under Mr...

I apologise to the Minister because I have another meeting and so will not be able to hear his fu...

No, I do not accept that. The hon. Lady’s party is committed to promoting green technologies and ...

The Minister talked about the Government promoting green energy; but there are wind and solar ene...

The hon. Gentleman has made his point eloquently. Not surprisingly, I do not agree, and I will ex...

Surely it was in the legislation, and in the way the bank was set up, that it could borrow. It is...

It could indeed. The difference between us is that the level of borrowing needed in this country ...

I was merely correcting the Minister, who tried to give the impression that the bank cannot at th...

I respect that. The point I am making is that the Government have a strategic commitment to the B...

Do the Government have any preference, then, as to the number of investors that might come to the...

The overriding principle is that we want to ensure that the bank is put on a footing where it has...

I know that it is difficult and, I imagine, sometimes commercially sensitive but I would like to ...

Our view is that we want to give the Green Investment Bank the best possible chance of having a s...

I am grateful to the Minister for giving way. That is all very well but the problem is that is al...

I am coming to that. I have been very generous in giving way. Perhaps I should crack on and then ...

This is a really important point. Given the Government’s determination to move the bank off the p...

I am trying to remember the beginning of the hon. Gentleman’s question. Will I confirm that there...

Does the Minister agree with me—this is the firm view of me and the Scottish Government—that the ...

The hon. Gentleman makes an important point about the devolution settlement. I will come to that....

That cannot be reconciled with the Government’s intention to get the Green Investment Bank off th...

The hon. Gentleman and I are in violent agreement. Let me make it clear that we will not put in l...

What about in contract?

Let me answer the question. We will not put a binding contract in regulation or legislation, but ...

Some might observe that assurances were sought ahead of the Royal Mail privatisation and that tho...

I think I have made it clear that I will not commit the Government to giving statutory and legisl...

Fracking?

It will be up to the investors and the bank to determine where the green energy market goes in th...

rose—

rose—

I will take these two interventions, and perhaps I can then crack through the questions.

I want to ensure that this is on the record. I said “fracking” from a sedentary position, and I t...

I want to take specific advice, but I will write to the hon. Gentleman on whether any constraints...

The Government announced that they will privatise the bank so that it can access capital, as the ...

My hon. Friend makes a good point, and I know he has raised it with my right hon. Friend, the Sec...

Will the Minister give way?

I want to crack through. Time is galloping on.

You have 43 minutes.

Well, the shadow Minister should see the list of questions I have been asked, not least by the sh...

For the record, is the Minister saying that the bank’s change from its current status to privatis...

I would not want to go as far as to say that it will have no impact. What I am saying is that we ...

On that point, as we all know, when a company goes to market, it depends on the conditions at the...

I will happily give an undertaking that we do not intend to give anything away and allow it to be...

The Minister mentioned that all parties would be involved in the discussions. As a Member of the ...

To clarify, I was not suggesting that we have a round table on the subject; I was merely extendin...

The Minister talked about agreements. What will be the legal status of the agreements with potent...

For any investor entering into a subscription agreement, the parties will be the current owners, ...

Ballpark.

Proceeds will depend on how big a stake is sold, on the outcome of negotiations with investors ab...

I am grateful to the Minister for giving way again; he is being very generous with his time. My u...

My hon. Friend makes an important point. A key part of the rationale for proceeding with this mov...

I am still not entirely clear what the Minister meant in his answer about the £1.8 billion, in pa...

Yes, I will happily respond to the hon. Gentleman. There is a slight circularity to this process,...

Will the Minister take one more intervention?

One last intervention.

I am very grateful to the Minister for giving way again. At yesterday’s meeting of the Environmen...

The hon. Gentleman makes an important point. Obviously, it is for the bank to make sure that it i...

I absolutely agree with the Minister—

I will happily give way again to the hon. Gentleman. [Laughter.]

That should probably be part of the Scotland Bill; we need more powers in Scotland on our way to ...

I hear what the hon. Gentleman says; I simply highlight the potential contradiction between his f...

It has been an excellent debate, with involvement from all parts of the House. The COP21 conferen...