20:12 Luciana Berger (Liverpool, Wavertree) (Lab/Co-op)

There is no ambiguity because buried on page 117 of the Government document, “The Plan for Growth”, contrary to what we have heard from the Secretary of State for Energy and Climate Change, who should perhaps look more closely at those elements of the Budget that affect his Department, Ministers have killed that commitment stone dead. The WWF described the announcement as

The second area that I want to discuss is the green investment bank, which Department of Energy and Climate Change Ministers have heralded in every speech and utterance. The Energy Secretary has staked his political reputation on it and green businesses up and down the country are crying out for it, so where is it? That the green investment bank will not be able to borrow its own capital until 2015—four long years away—and only then if the Government’s debt target is met, makes me wonder when a bank is not a bank and when it is merely a fund run by officials. Surely, a bank has staff, a board and a headquarters building. I have been asking Ministers about the set-up of this so-called bank for a while, but we are still waiting for the answers.

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