As befits a coalition government composed of blues and yellows,
the Government has stated that it wants to be "the Greenest
Government ever". On Wednesday, George Osbourne
announced a number of measures intended to assist the Green Economy
and help the Government achieve that objective. Brief
details of a few of the key measures which are likely to be of
particular interest to the Energy Sector are as follows.
The Government has brought forward the date on which the Green
Investment Bank will become operational by one year. The
Bank will now begin to operate in 2012-13 and will initially be
capitalised with £3 billion. It is predicted that,
with additional private sector finance, the Bank could provide
£18 billion of investment in green infrastructure by
2014-15. The Bank will not be given borrowing powers
until 2015-16, and then only if national debt levels have been
met.
