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UK Green Investment Bank money going more to bankers’ bonuses, than to renewables

“I was astonished when a UK Lib Dem minister admitted that money from the fossil fuel levy will set up a bank that could see some of the bankers’ bonuses that are a matter of some debate at the moment…Scotland has a real opportunity to lead the renewables revolution and releasing this money to create green jobs rather than bankers’ bonuses would help advance that cause.”

Green jobs not bankers’ bonuses | SNP – Scottish National Party, 13 jan 2011, An SNP MSP has expressed astonishment that money which could and should be invested in creating jobs in Scotland’s green energy industry could be paid out in bankers bonuses after an admission by the UK LibDem Energy Secretary Chris Huhne and his colleague Philip Wynn Owen that bankers’ bonuses and public bailouts could be a feature of a new Green Investment Bank set up with money from Scotland’s share of the fossil fuel levy. The SNP believes the £200 million should be released now to be invested in Scotland’s green energy industry creating new jobs and boosting the economy.

The admission that the Tory Government is planning extra bank bonuses come as LibDems failed in their promise to stop bankers bonuses and to release the fossil fuel levy money,

Commenting Mr McMillan said:

“Under the SNP Government Scotland’s renewable energy industry has moved forward and we’re seeing increased investment, new jobs and world leading technology developed in Scotland.

“I was astonished when a UK Lib Dem minister admitted that money from the fossil fuel levy will set up a bank that could see some of the bankers’ bonuses that are a matter of some debate at the moment.

“Scotland has a real opportunity to lead the renewables revolution and releasing this money to create green jobs rather than bankers’ bonuses would help advance that cause.

“Instead the LibDems have disappointingly reneged on another campaign promise and taken a lackadaisical approach to investing in jobs……
Green jobs not bankers’ bonuses | SNP – Scottish National Party

January 13, 2011 - Posted by Christina Macpherson | politics, UK