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Mulholland questions Secretary of State on location of Green Investment Bank

July 7, 2011 4:25 PM

Greg Mulholland MP for Leeds North West, has today at Energy and Climate Change Questions in the House of Commons, asked Secretary of State, Chris Huhne about the site planning process for the Green Investment Bank, and whether the City of Leeds was still in the running.

The Green Investment Bank has been earmarked for an initial £3billion worth of investment and is projected to assist in injecting £15billion into the green economy within four years. Secretary of State for Business Innovation and Skills, Vince Cable, recently announced that London, Edinburgh and Bristol were amongst the cities bidding to host the bank and that a decision would be made in due course.

The Secretary of State assured the house that no decisions have been taken regarding the future location of the Green Investment Bank, and that a decision was still "some way off." He stated that the focus was still on getting proposals right for the bank's functions before the question of site selection was even taken into consideration.

Greg commented:

"I was pleased to have the opportunity to question the Secretary of State on the proposed location of the Green Investment Bank. Many people in Leeds are working hard on the bid to see parts of the Bank located in the city and it is great news that Leeds is still being considered as a potential location.

"Leeds and Yorkshire have a very strong case, as the country's second financial centre and with the many other strengths such as a diverse and innovative manufacturing base, access to a large local labour pool and good connectivity to London and beyond. It is therefore so important that Leeds is considered as a location for the Green Investment Bank. Leeds is an extremely viable option for the bank's location, and securing the bank in would undoubtedly bring additional jobs to the city.

"Having now made clear that no decision on the location of the Bank has been made, I am looking forward to the meeting next week with the Minister, Gregory Barker and representatives from Leeds, to discuss the city as a potential location for the Bank."