Wednesday
Oct302013
by 
Bishop Hill
Bishop Hill Reckless endangerment of GIB
Oct 30, 2013 Climate: Parliament 
Mark Reckless, the Conservative MP for Rochester and Strood, has revealed on his blog that a group of his colleagues will potentially put a large spanner in the works of Vince Cable's boondoggle triumphant, the Green Investment Bank.
Today the House of Commons votes (in a deferred division between 11.30am and 2pm) on whether to restrict funding to the Green Investment Bank following the Prime Minister’s statement a week ago that we “need to roll back the green charges”.
MPs are normally only able to scrutinise taxation decisions, but the unusual structure of the bank means that they get the chance to cast an eye over this particular vested-interest creation scheme.
Reader Comments (15)
Cable:
Waste to energy. Discuss. Very well done Mark Reckless and friends.
It will be interesting to see what support Mark Reckless gets from other conservatives.
I like Reckless actions....
What a fantastic name! I wonder what the provisions for bad debts are of this bank...
Should winkle out the crony capitalists.
Just up at the Telegraph;
Dods, a political publishing house, interviewed more than 100 MPs and found that on [sic] 35 per cent of Tories in Westminster believe green energy programmes are good for the economy.
He may get some traction then.
Is the GIB going to be doling out money to ventures like Solyndra (went bust owing half a billion) or the other solar panel company (name escapes) that just recently went pop? Will politicians be held to account when the GIB fails (silly bloody question, I know....)?
Don't know if you read this Bish, but apparently the US are no longer going to allow funding of coal fired power plants around the world. Presumably this will hurt poor countries quite badly (unless they can get finance elsewhere).
Mmmmm.
I'm gonna go hunt me down a bottle of that beer. Looks good.
@Oct 30, 2013 at 2:18 PM | Robinson,
Sad news. This is where deranged social movements alwys end up: Hurting those they claim to care about, not actually accomplishing any part of what they claim to want so badly, and leaving the door open for others to do what should have been done.
Perhaps Vince and the GIB can emulate President Obama's stunning success in green energy investments:
http://blog.heritage.org/2012/10/18/president-obamas-taxpayer-backed-green-energy-failures/
OT but have to comment that Ringwood is our local breweryand very excellent ale it is.
Do we know what happened? I can't find anything in the day's parliamentary reports online.
Don't know if you read this Bish, but apparently the US are no longer going to allow funding of coal fired power plants around the world. Presumably this will hurt poor countries quite badly (unless they can get finance elsewhere).
Oct 30, 2013 at 2:18 PM | Unregistered
CommenterRobinson
What an excellent way to reduce the US's global influence. I don't think the world has anything to worry about until China decide not to invest in Coal fired power plant. The US would have to borrow the money form China to reinvest anyway.
That the draft Enterprise and Regulatory Reform (Designation of the UK Green Investment Bank) Order 2013, which was laid before this House on 17 July, be approved.
Division No. 113.
Ayes: 290.
Noes: 22.
Question accordingly agreed to.