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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Monday, 11 December 2017

Tommy's Blog Articles

Tommy Sheppard
30 November 2017
My work for you in Edinburgh East
Tommy's Blog

I used my Evening News column this month to talk about fireworks following the extreme antisocial behaviour on bonfire night. I've also written to the Minister asking for the UK Government to toughen up licensing laws. And if they aren't willing to do that, devolve power over fireworks to the Scottish Parliament so they can act. Read the full article here.

 

Tommy Sheppard
30 November 2017
Tommy's Blog
My work for you in Westminster
The EU Withdrawal Bill entered its committee stage this month in the House of Commons.  As it is a constitutional bill it is considered by a committee of the whole house – in other words all MPs consider it in the main chamber. While hundreds of amendments were tabled, only a few are selected for a vote each day. There will be eight days of debate in total, three of which took place in November. O...
Tommy Sheppard
23 November 2017
Tommy's Blog
My work for you in Westminster
So the EU Withdrawal Bill was back in the Commons for Day 3 of the committee stage this week and, as promised, I’m writing to update you on what happened.Before I talk about the Bill itself, you might be interested in the events of Monday’s Ways and Means debate. Ways and Means is a traditional term for taxes or other charges levied on the public in order to fund Government spending. And while not...
Tommy Sheppard
16 November 2017
Tommy's Blog
My work for you in Westminster
I know how difficult it can be to not only keep up with what is happening as Brexit proceeds, but to understand the antiquated political systems that make up the UK parliament. So I will be sharing regular updates as the Bill makes its way through parliament. As you may be aware, the Bill entered its committee stage this week in the House of Commons. That means MPs debate specific aspects of the B...
Tommy Sheppard
09 November 2017
My work for you in Edinburgh East
Tommy's Blog
Media
All over Scotland last weekend families enjoyed watching the fireworks.  The spectacle of fire and colour brought happiness to many – young and old. The same was true in Edinburgh. All over the city – and especially at Meadowbank – majestic displays thrilled the crowds.But in a few parts of the city a tiny minority set out to cause havoc and intimidate local people. In a few places in north and ea...