GREATER MANCHESTER MPs STAND TOGETHER IN SUPPORT OF GREEN INVESTMENT BANK BID

February 13, 2012 9:59 AM

Green Investment bank Greater Manchester MPs Mark Hunter (Lib Dem, Cheadle), Tony Lloyd (Labour, Manchester Central) and Graham Brady (Conservative, Altrincham and Sale West) have today written to BIS Secretary, Vince Cable, to emphasise the strong cross-party support for locating the Green Investment Bank in Manchester.

The key points being made for the Manchester Green Investment Bank Bid are that:

The Government is providing the £3 billion initial capitalisation of the Bank and given it borrowing powers from 2015. The Bank will begin its operations in 2012, a year earlier than planned, and is anticipated to leverage an additional £15 billion from private sector investment in green projects. A decision, by the Secretary of State for Business, Innovation and Skills, on where to locate the Bank is imminent.

Commenting, Cheadle MP Mark Hunter said:

"As a Greater Manchester MP and a Mancunian born and bred I strongly support Manchester's bid for this flagship project to be located in the city, and am convinced the bidding team has put forward a strong and impressive case."

Commenting, Manchester Central MP Tony Lloyd said:

"Manchester's powerful case is supported not simply across the political spectrum but across the conurbation. People know how important the transition to a low carbon economy is going to be and we want Manchester to be at the forefront of that because the City of Manchester can deliver not only for Greater Manchester but for the whole country."

Commenting, Altrincham and Sale West MP said:

"I am happy to give my support to this; Manchester is the best place in which to invest and to do business. Locating the Green Investment Bank in Manchester would also be an important demonstration of the Government's commitment to re-balance the economy and to increase investment in the regions."

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