Government’s green investment bank starts to mould

Tom Blenkinsop MPTom Blenkinsop, Labour's MP for Middlesbrough South and East Cleveland today slammed the Government over its dying hope to be the greenest administration ever.


Tom said, “I can’t believe there is still no movement from the Government in relation to allowing the Green Investment Bank to borrow before 2015. If it could borrow, it could leverage billions worth of private sector investment into the economy.”


“This economically illiterate policy is not only damaging the ability of companies to grow, it is also damaging our country’s ability to rectify the deficit.”


“This incompetency from the Chancellor has very damaging consequences for the North East and Teesside, in-particular. Our region is heavily involved in the renewable energy manufacturing sector, as well as the supporting industries, and not being able to access finance will mean other countries may overtake us and develop a competitive advantage.”


“I implore George Osborne to look again at this crazy delay he is enforcing and to get behind British business. If he doesn’t they may just go to a country with a government does support its industry”


Issued by office of Tom Blenkinsop MP