The GIB: Somewhere over the Rainbow…..

I’ve put up a few posts on the Green Investment Fund, or Green Investment Bank as it is sometimes known. It will become a Green Investment Bank of course, as I posted (here) when the prospectus document came out , by 2015 or when the Treasury decides that ‘the target for debt to be falling as a percentage of GDP has been met’. At that point all the big leveraged lending comes in, along with  bond issuing, all the singing and dancing that we’d expect for such a bank. The Green Deal could be helped by GIB for example.  So could large wind and other renewables. Once it’s a proper bank, that is: until then the GIF will advance funds from a pot that might reach £3 billion by 2015.

Clearly, as a result of the Autumn Statement yesterday, there is now no prospect of that careful Treasury formula for the Green Investment Bank’s emergence to be met until at least 2017.  Will GIB then be just a GIF until that point? If so that could be a real problem for some of the assumed investments already being talked about: or will a more flexible formula be wheeled on? I don’t know, but we should certainly be told.

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