Plans for the UK’s Green Investment Bank to be privatised

Plans for the UK’s Green Investment Bank to be privatised have been slammed by a number of pro green Conservatives, who feel it would be a step in the wrong direction for the conservatives green policies. The Green Investment bank was set up by the coalition government as an organisation which invested public money into renewable energy projects. It was viewed by many as a huge success, and one of the only green energy policies that actually worked under the coalition government.

The Green Investment bank has so far invested £2billion into green energy projects, and was originally set up because of private sector banks being unwilling to invest in green projects due to slow returns of investment. It was thought that a public sector bank would increase confidence within the private sector and encourage co-investing.

Under the plan at least a majority stake would be sold, turning the organisation almost entirely private, with the government saying the money raised from the sale could go towards reducing the companies deficit.

Criticism of the proposed sell off has came under huge criticism from Labour, however, it will be the criticism from his own ranks that will hurt David Cameron the most.