01 April 2010 #Environment
Amongst other environmental measures, the star feature of the 2010 budget is the announcement of a £2bn Green Investment Bank (GIB). The environmental measures announced in the 2010 budget include:
Whilst the GIB has generally been welcome, it has been met with an air of caution. Infrastructure investment to stop runaway climate change will need to be far greater than £2bn. Additionally, others have made the point, and validly, that the £1bn to be contributed by the government (the other £1bn to be leveraged from the private sector) will depend on the sale of assets such as the Channel Tunnel rail link, which is likely to take some time, especially in current market conditions. Though there is scepticism, the announcement of the GIB is a step in the right direction as it will go a long way to mitigate the risks perceived by the private sector, which continues to consider investment in the sector as a risky proposition.
Taken from The EIC Environmental Investment Network.