Give the Green Investment Bank to Scotland
Posted on Wednesday 3rd August 2011 09:00 by Gordon Bain
Scotland will benefit from the UK government's new Green Investment Bank which aims deliver thousands of new jobs thanks to the work of Liberal Democrat ministers. But it could benefit even more if the administration of the scheme was based here in Scotland.
This innovative new Bank will start its work with at least a billion pounds to help unlock substantial new private investment in green infrastructure projects such as offshore wind farms across the UK. This would mean hundreds of millions of pounds being spent in Scotland on projects to generate green energy. Experts estimate that at least 40,000 jobs can be created in Scotland from the renewables industry.
Some of the money for this scheme had been locked in the bank account of a quango in London by the previous Labour government. But now Lib Dem ministers have found a way to release it and spend it on creating new, green jobs.
The Liberal Democrats have, however, been disappointed that the SNP Government in Scotland may turn its back on the proposals.
A Liberal Democrat spokesperson said, "As ever with the SNP, they seem more interested in picking a fight with London rather than seizing this opportunity to create new Scottish jobs. We hope the SNP change their mind. Scotland has a lot to gain from two governments working together."
"Scotland would be an ideal site to establish the Green Investment Bank. It has a long tradition of financial services and have great potential to harness wave, wind, and tidal energy. Scotland would be a natural home for the new bank."
