Wednesday, November 28, 2012
Earlier today I joined Vince Cable and Ed Davey in Edinburgh to give the UK Green Investment Bank (GIB) its official launch.
The triumvirate of Ministers underlines that this is a Liberal Democrat-led initiative that will stimulate renewable energy innovation in the United Kingdom. With an initial budget of £3 billion - £250 million of which is ring-fenced specifically for Scotland, but all of which is open to Scottish bids - the UK GIB will bring green jobs and commercial success to Scotland and all of the UK.
I am delighted that the Bank will be headquartered in Edinburgh. Scotland has enormous green energy potential and Edinburgh is the UK’s second biggest financial centre. It makes perfect sense to have the roots of GIB grounded in Scotland - though the benefits will be felt in every part of the UK.
The size and scale of the UK’s single energy market ensures the level of investment that will unlock Scotland’s renewables future, providing sustainable and affordable green energy across the UK.
The launch of the Green Investment Bank is just the latest evidence that the whole UK can achieve results far greater than the sum of our parts, and that Liberal Democrats in Government are able to make that happen.
Our party has a strong green tradition. In office, we have a strong green record. The UK GIB launch is just the latest step towards shaping the green future to which we are committed.
Liberal Democrat Secretary of State for Scotland