Sale of Green Investment Bank

January 2017

I have received a lot of correspondence from constituents about the proposed sale of Green Investment Bank.

I am assured that the Government understands public concerns around the sale of the Green Investment Bank. Ministers recognise, however, that the sale is necessary as part of this Government's broader commitment to getting the best deal for the taxpayer and doing what is right to support the economy. 

Where there is no longer a strong policy reason for continued public ownership or where there is potential for an asset to operate most sensibly and efficiently in the private sector, the Government is committed to looking into the potential sale of public sector assets. Asset sales help achieve stronger public finances, reduce national debt and encourage economic growth through investment.

The Government is continuing to evaluate proposals from bidders and no decision has yet been taken. When evaluating proposals, the Government is looking most closely at commitments to forward investment and maintaining a clear identity for the Bank. As the Minister of State at the Department for Business, Energy and Industrial Strategy, Nick Hurd, has stated, the Government has no interest in selling to an asset stripper.