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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Tuesday, 18 June 2019

Tommy's Blog Articles

Tommy Sheppard
25 April 2019
Tommy's Blog
Media
Forty years ago in the sweltering summer of 1979 I got myself arrested at Torness. I was one of hundreds protesting against the construction of the nuclear power station. For my efforts I got to spend a night in the cells at Dunbar nick.As the then Thatcher government was keen to point out - we didn't stop Torness. But as I'm keen to point out it was a tipping point. The time when nuclear energy l...
Tommy Sheppard
29 March 2019
Tommy's Blog
Media
For many months the government has wielded a number of sticks to beat MPs into supporting its Withdrawal Agreement. It might be bad, they argue, but the alternative is worse. Remainers have been threatened with no deal. Leavers with no Brexit.The latest big stick is the threat of having to participate in the European parliamentary elections. To avoid this the Government (and the EU’s) new deadline...
Tommy Sheppard
28 March 2019
Tommy's Blog
Media
So we’re not leaving the European Union tomorrow after all. As the Brexiters cancel their street parties and put away the bunting the rest of us should think carefully about what to do with the reprieve.This week started with parliament voting to take control of the process from government. A move without precedent. In truth, we were forced into it. What else can you do when faced with a governmen...
Tommy Sheppard
28 February 2019
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Media

Four weeks ago I was worried about writing this column on the eve of the last major parliamentary debate on Brexit. Anything could have happened, rendering my speculation obsolete by the time you read it. I shouldn’t have fretted. Anything could have happened but nothing did.

Here I am again. Groundhog day. It’s Tuesday. There’s a big debate tomorrow.

Tommy Sheppard
31 January 2019
Tommy's Blog

Tuesday. Another day spent discussing Brexit. Another day of my life I’m not getting back.

We are no further forward. As the clock ticks down to exit it’s only fair to ask: What the hell is Theresa May playing at?