The world’s first dedicated Green Bank was launched this week, bringing with it £3 billion of government investment to kick-start low-carbon projects.
Eastleigh MP and former Energy Secretary Chris Huhne has backed the Bank to lower bills for businesses and households in Eastleigh and the rest of the country, whilst boosting the local economy with manufacturing, construction, and high-tech jobs – in everything from loft insulation to solar panels to high-speed rail.
The Green Investment Bank will put money into renewable energy, recycling, and efficiency, fast-tracking the UK’s transition to a green economy. The Bank is designed to accelerate things further by getting over initial investment humps, and bringing forward the massive cost-savings green energy can reap.
In the coming months, the Bank will provide funds for green investment projects right across the country, creating jobs and cutting costs along the way.
Eastleigh MP Chris Huhne said:
“This is good news for Eastleigh residents, and for the rest of the UK. The Bank is a perfect example of how you go green and grow the economy – its investments will cut carbon emissions and cut energy costs for families and businesses. Coupled with Lib Dem action to make energy tariffs simpler, this is going to hit the brakes on fast-rising bills for local business and local residents.
“Sustainability will not hurt business; today sustainability is business – and improving energy efficiency cuts costs. From renewable heat and electricity plants at Marwell Zoo, to solar panels on Fleming Park’s roof, Hampshire businesses, households and the Council are taking advantage of the savings green technology can produce. Going green and growth are a twinned ambition, and the Green Investment Bank is here to accelerate that, creating jobs and business, in every corner of the country – from Eastleigh to Edinburgh.
“We’re talking about more insulators, more plumbers, more electricians, more engineers; more ‘green collar’ workers up and down the country, building the green infrastructure we need to get on in an era of high-price oil.
“It means security for the UK too. Green energy, produced here in Britain, can reclaim our energy independence. Relying on foreign oil has left us dangerously exposed to the whims of global markets. You never know when a price spike is going to come. It can all-too-easily be in the middle of a cold snap, meaning the most vulnerable in our communities suffer.”