Baroness Burt of Solihull
Main Page: Baroness Burt of Solihull (Liberal Democrat - Life peer)
Vince Cable
There has been no change to the policy. The green deal has a very sound business model, it will proceed and it will be successful. We do not rule out the possibility of the green investment bank complementing and working with its activities.
Lorely Burt (Solihull) (LD)
I know that my right hon. Friend said in his statement that he does not want to be prescriptive about the nature of the bank’s borrowing or structures, but will he look seriously at the recommendations of Ben Warren from Ernst and Young, who told the Environmental Audit Committee that
“it was crucial to not only focus on big investors when looking to raise capital, but also to work on a structure that allows individual citizens to invest in the GIB”?
Vince Cable
That may well be one of the ways in which the green investment bank will be involved in the longer run—once it is securely established. Large numbers of people will no doubt want to invest, through individual savings accounts for example, and that could well be a product that the bank eventually produces. We certainly do not rule that out, and we want to encourage creativity.