The Secretary of State for Scotland met Business Secretary Vince Cable in London today (5 April 2011) to discuss the possibility of bringing the Green Investment Bank (GIB) to Scotland.
The latest meeting between the ministers follows the launch of the Edinburgh bid at Westminster last week when a cross-sector group presented the business case for the Scottish capital at an event in Westminster.
The Scottish Secretary was presented with a document detailing the arguments for Edinburgh and said he would make sure it was given serious and careful consideration by the UK Government.
BIS officials are examining the proposals submitted by The Edinburgh Green Investment Bank Group to base the GIB in Edinburgh. The department is also talking to the Edinburgh financial community as part of the process of designing the bank.
The meeting with the Business Secretary is the latest in a series of meetings Michael Moore has held with fellow Cabinet ministers, the energy industry and other relevant sectors on making the case for Scotland to host the GIB.
The recent Budget announced that the Green Investment Bank fund would grow from £1 billion to £3 billion.
Speaking after the meeting, Michael Moore said:
“I have always made a strong case for the Green Investment Bank coming to Scotland and will continue to do so within government and elsewhere. My latest meeting with the Business Secretary to discuss was very constructive. No decision has been made on the location yet and I welcome the fact that the Department for Business, Innovation and Skills will be speaking directly to the financial sector in Edinburgh on the issue in the near future.”