Tommy Sheppard

MP for Edinburgh East

Green Investment Bank

The Green Investment Bank is vital because it funds innovative but high-risk low-carbon projects. This is crucial in Scotland where we have a huge amount of green energy potential. But in order for low carbon energy to become a low cost energy option we need investment in research and development.

I am extremely concerned about the privatisation of this important institution. Even more so since the reports that the privatisation may result in an asset stripping exercise. This goes against previous commitments made to the Scottish Government.

At the very least we have asked for guarantees that the Bank will remain headquartered in Edinburgh, that the highly skilled jobs within the Bank will be retained and the Bank’s green purpose – which enables it to invest in innovative new renewable technologies – will be protected.

In Scotland almost 50% of our electricity consumption is now coming from renewable sources. The GIB plays a key role in driving the green economy and we must keep investing so that this can continue to increase.

If the GIB is allowed to be asset stripped it will just become another investment bank. And quite frankly we have enough of those already.

Both the Scottish Government and SNP MPs at Westminster will continue to press the UK Government for further commitments to protect the GIB so that we can drive forward the green agenda, promote future growth and create more jobs both within the organisation and the wider sector.

 

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Saturday, 23 June 2018

Tommy's Blog Articles

Tommy Sheppard
21 June 2018
Tommy's Blog
Media
Brexit rumbles on. Last week the SNP walked out of parliament in protest at not being allowed to discuss House of Lords amendments that will seriously affect how we are governed. If we can’t have our say inside the chamber we’ll make our arguments outside.Meanwhile the UK government say we’re scaremongering. What power grab say the Tories? They claim that the Scottish government will get more powe...
Tommy Sheppard
15 June 2018
Tommy's Blog
Buckle up folks – here comes a bumper blog as this week saw the return of the EU Withdrawal Bill after its time in the Lords. Or, more accurately, we were back voting on the EU Withdrawal Bill given there was precious little time for any actual debate. Over two days we were supposed to debate and vote on 20 different changes to the Bill that the Lords had put forward.You’ll likely have seen and he...
Tommy Sheppard
19 May 2018
Tommy's Blog
Okay I know that it’s probably not the best time to try to start a discussion about the monarchy. With a popular prince wedding his celebrity sweetheart in a lavish event resplendent in the glitz and glamour of Hollywood, it might be best for dissidents like myself to keep our republican heads below the parapet.Then again, with the nation’s attention focused on the royals because of the wedding, t...
Tommy Sheppard
02 May 2018
Tommy's Blog
Media
This is a piece about the SNP’s constitutional review. Exciting, huh? Well, maybe not, but important all the same.I know – at least I hope – no-one joins a political party to debate its internal structure. And set against debates on Indy, Brexit and the World War III this is unlikely to get anyone’s political juices flowing. People are motivated by ideas and feelings, powerful emotions that propel...
Tommy Sheppard
26 April 2018
Tommy's Blog
Media
Since the 30th March Palestinians in Gaza have been peacefully protesting. They will continue until the 15th May - the 70th anniversary of the Nakba, the name Palestinians have for the events that displaced them from their homes when Israel was created.The protests are billed as the “Great Return March” to make the point that it’s time to leave Gaza and go back to where they came from. But try tha...