Oral Answers to Questions Debate

Full Debate: Read Full Debate

Christopher Pincher

Main Page: Christopher Pincher (Independent - Tamworth)

Oral Answers to Questions

Christopher Pincher Excerpts
Thursday 11th November 2010

(13 years, 11 months ago)

Commons Chamber
Read Full debate Read Hansard Text
Lord Barker of Battle Portrait Gregory Barker
- Hansard - - - Excerpts

There are obviously other ways of investing in new technologies, including through the energy strategy board, and the coalition has made an absolute commitment to push forward a range of technologies. The GIB is about crowding in private sector investment into a viable green economy.

Christopher Pincher Portrait Christopher Pincher (Tamworth) (Con)
- Hansard - -

Does the Minister agree with me, with the chief executive of Greenpeace, John Sauven, and, for that matter, with Andy Atkins of Friends of the Earth, that if the GIB is to be truly successful it must be independent and operate as a proper bank? It must not be seen as a fund or a quango.

Lord Barker of Battle Portrait Gregory Barker
- Hansard - - - Excerpts

My hon. Friend makes a good point. It is vital that the new institution, which will be the first of its kind in a modern economy, has the maximum capacity to crowd in private sector capital. As a result, it will need to have many of the functions that he lists.