Business, Innovation and Skills written question – answered at on 14 June 2011.
To ask the Secretary of State for Business, Innovation and Skills what estimate he has made of the potential sums to be spent on flood defence projects by the Green Investment Bank in the first three years of its operation.
Flood defence projects in themselves do not generate revenue streams which can help fund the costs of any capital provided by the Green Investment Bank (GIB) or pay back other sources of financing. The benefits of flood defence projects tend to be in terms of avoided losses, land and property values, and insurability against flood damages. We do not therefore anticipate that the GIB will be making any such investments.
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