20 April 2017
Commenting on the announcement today (Thursday) that the government will sell the publicly-owned Green Investment Bank (GIB) to the Macquarie Group, TUC General Secretary Frances O’Grady said:
“The sale is a missed opportunity for Britain to create the green economy we need, and to catch up with our competitors on investment in infrastructure.
“It’s been a great success supporting green jobs by attracting billions of pounds for green infrastructure. And it’s been a great success for taxpayers, who have found themselves in possession of a valuable asset.
“It’s a shame that such a successful investment bank will no longer be boosting the public purse, but will be lining corporate pockets instead.”
Notes to Editors:
- GIB has committed £2.3bn to 58 green infrastructure projects with a total value of £10.1bn. Every £1 committed by GIB has mobilised £3 of private investment. More info on GIB is here www.greeninvestmentbank.com/news-and-insights/2015/uk-green-investment-bank-helps-mobilise-10bn-of-capital-into-uk-green-infrastructure/
- The TUC has previously called for GIB to remain in majority public ownership, and to be given additional borrowing powers and an expanded role.
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Issued: 20 April, 2017