Green Investment Bank

Debate between Lord Prior of Brampton and Lord Teverson

Thursday 12th January 2017 Lords Chamber

[Lord Prior of Brampton]

My Lords, I think the Green Investment Bank has spent just over £2.5 billion so far and has brought in about £8 billion of private investment to complement that, so it has committed a total investment of about £10 billion. Clearly anyone who buys the Green Investment Bank will want to see that investment grow. That will be very much part of the negotiated discussions that we are having with interested parties.

[Lord Teverson (LD)]

My Lords, I declare an interest as a trustee-designate of the Green Purposes Company. Given Nick Hurd’s very strong statement in the House of Commons yesterday that the Government’s number one priority was to obtain the right value for the Green Investment Bank—which we get—surely the integrity of the bank going forward should at least be an equal priority. Can the Minister confirm that please?