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Green Investment Bank

Published: 2 Feb 2017 10:00

Cabinet Secretary receives confirmation on protection of Scotland interests during sale.

Cabinet Secretary for Economy, Jobs and Fair Work, Keith Brown, has secured an assurance from the UK Government that the strategic importance of the Green Investment Bank to Scotland is being fully considered as part of discussions around its privatisation.

Mr Brown has repeatedly urged the UK Minister of State for Climate Change and Industry, Nick Hurd, to ensure that any negotiations with a preferred bidder prioritise Scotland’s interests.

Mr Brown has now written again to Mr Hurd, calling for clarity on the sale of the bank, following reports that the current deal is under threat.

He reaffirmed the Scottish Government’s determination to retain the Bank’s Edinburgh headquarters and the jobs of the 55 highly-skilled people employed there.

Mr Brown said:

“The UK Government continues to proceed with the sale of the Green Investment Bank, offering the Scottish Government little in the way of consultation or clarity.

“Although I welcome assurances that Scotland’s interests are being considered in this process, recent media reports highlight the need for greater transparency from the UK Government.

“Foremost among my concerns is the importance of retaining the Bank’s Edinburgh Headquarters and the 55 highly skilled jobs it supports. The lack of transparency around the sale creates significant concern and uncertainty for staff, and the sector more widely. I would like to reiterate my determination to ensure these roles are protected at a similar standing and scale as the present arrangement.

“The Scottish Government recently published our Climate Change Plan and draft Energy Strategy, both of which are evidence of Scotland’s role at the vanguard of the UK’s green economy, and the key role we play in driving forward the green agenda, promoting future growth.

“It is vital that Scotland’s needs are fully considered as part of future discussions, and I look forward to receiving an update from the Minister of State for Climate Change and Industry in the near future.”