Oral Answers to Questions

Glenda Jackson Excerpts

Thursday 8th December 2011 Commons Chamber

[Mr Hayes]

One reason why I, along with the Secretary of State, have defended adult and community learning is due to its effect on things such as physical well-being, community health, mental health and so forth. It is certainly true that we will need to take those things into full account in respect of the offer. I give that answer mindful that the hon. Gentleman, who was my predecessor, was himself a champion of adult and community learning.

[Glenda Jackson (Hampstead and Kilburn) (Lab)]

12. What recent progress he has made on the Green investment bank.

[The Secretary of State for Business, Innovation and Skills (Vince Cable)]

The development of the Green investment bank is making good progress. Prior to its establishment, the Government are planning to invest in projects from April 2012, including in renewable energy and the non-domestic energy efficiency and waste sectors. We will announce the process for deciding the location of the bank shortly.

[Glenda Jackson]

There are reports that the Government have dramatically lowered their funding for this potentially innovative venture, so when, if ever, will what threatens to become a mere piggy bank be open for business?

[Vince Cable]

Those reports are simply incorrect. The Government’s commitment was for £3 billion, and that remains the case. We expect the bank will have leveraged in another £15 billion by the end of this Parliament. That is our commitment, which we will stick to. I am relieved that Hampstead and Kilburn are not adding their names to the list of cities hoping to attract the Green investment bank.