Oral Answers to Questions

Debate between Lord Hammond of Runnymede and Carol Monaghan

Tuesday 17th January 2017 Commons Chamber

[Carol Monaghan (Glasgow North West) (SNP)]

T1. If he will make a statement on his departmental responsibilities.

[The Chancellor of the Exchequer (Mr Philip Hammond)]

My principal responsibility remains delivering near-term measures to ensure stability and resilience as the UK exits the EU, while also addressing the UK’s long-term productivity challenge. My immediate focus is on preparing the last ever spring Budget for delivery on 8 March.

[Carol Monaghan]

Many of my constituents are concerned about the future of the Green Investment Bank in relation to possible asset stripping, the worth of the golden share and the suitability of the buyer. What is the Department doing to ensure that the UK taxpayer is given a fair deal on the sale of the bank and the bank retains its green focus?

[Mr Hammond]

Those are two of the criteria that we have set: there should be value for money for the taxpayer; and the bank’s focus for future operations should be retained and protected. We are reviewing the sale process as it goes forward, and we will make sure that those outcomes are protected.