Caroline: Government approach to sale of GIB is 'shocking'

Caroline has responded to a report on the sale of the Green Investment Bank by the National Audit Office. The NAO report has found that the Government's approach to the sale caused uncertainty for staff, and potentially lost the Treasury money. 

Caroline said: 

"Not only was the sale of the Green Investment Bank wrong in principle, but the whole process was carried out in a way that hugely disappointing. Despite its clear success the Green Investment Bank was hived off to private equity firm, whose non-binding commitment to tackling climate change for just the next three years will do little to assuage people's concerns. 

"It's simply shocking that the Government wasted millions of pounds by not going ahead with the phased sale option, and took a gamble on key staff by failing to offer them they certainty they deserved."

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