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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Friday, 19 October 2018

Tommy's Blog Articles

Tommy Sheppard
11 October 2018
Tommy's Blog
Media
We were supposed to set off from Johnston Terrace at one o’clock on last Saturday’s march for independence. In fact, it was a quarter past two by the time I turned into the Lawnmarket and began the walk down the Royal Mile to Holyrood.That’s what happens when the biggest gathering in years descends upon the centre of Edinburgh and parades through narrow medieval streets. As a popular tweet quipped...
Tommy Sheppard
13 September 2018
Tommy's Blog
Media

Going back to Westminster after the summer recess you can almost feel the impending doom in the air. It’s the calm before the storm. Everyone knows something bad is going to happen. Just not what exactly. Like waiting for the ghoul to reveal itself in a horror movie.

And as the dread unfolds the discussion about whether there should be another Brexit referendum will intensify.

Tommy Sheppard
16 August 2018
Tommy's Blog
Media
How’s your festival going? Are you thrilled to bits at the world’s largest arts festival being on your doorstep? Are you overdosing on culture in one of the 200+ festival venues? Or do you spend August grimacing as it takes twice as long to get anywhere and the city centre is taken over by hordes of impossibly enthusiastic young people.Whatever your view on the summer festivals there’s no doubt th...
Tommy Sheppard
20 July 2018
Tommy's Blog
Articles
In 2016, Nicola Sturgeon announced that there would be a Growth Commission to explore Scotland’s economy and the potential that might occur after Independence. Andrew Wilson chaired the commission and in May this year they published their final report – you can read it in full here.There have been many commentaries on the report, from different political persuasions. Below is my contribution – wri...
Tommy Sheppard
20 July 2018
Tommy's Blog
Media
This month in parliament we celebrated the 90th anniversary of all women being allowed the vote with the passing of the 1928 Equal Franchise Act. This built on the Act a decade before which gave some women – those over 30 and either married or property owners – the vote. Every time we mark these historical landmarks I am struck not by how long ago they were, but by how recent.The 1920s were an age...