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Green Investment Bank

Business, Innovation and Skills written question – answered on 12th May 2011.

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Photo of Zac Goldsmith Zac Goldsmith Conservative, Richmond Park

To ask the Secretary of State for Business, Innovation and Skills pursuant to the answer of 29 March 2011, Official Report, column 304W, on the Green Investment Bank, if he will bring forward the date from which the borrowing powers of the Green Investment Bank may commence.

Photo of Mark Prisk Mark Prisk The Minister of State, Department for Business, Innovation and Skills

My right hon. Friend the Chancellor of the Exchequer made clear in his Budget statement of 23 March that the Government will enable the Green Investment Bank to borrow from 2015-16 and once the target for debt to be falling as percentage of gross domestic product has been met. We will say more on the bank's operations later this month.

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