Green bank proposal for town

WARRINGTON would make an ideal centre for a branch of the proposed new Green Investment Bank, according to Liberal Democrat and Tory councillors in the town.
They are to put a motion to a meeting of the borough council on September 5 urging the authority to press the town’s claims with the Government.
The Green Investment Bank (GIB) will have a mission to accelerate private sector investment in the UK’s transition to a green economy. It will play a vital role in addressing market failures which are holding back private sector investment.
Sectors likely to be eligible for intervention initially include offshore wind, non-domestic energy efficiency and waste. Work is ongoing to explore other sectors which will change over time.
The Government has pledged funding of £3 billion for the GIB over the period up to 2015.
In a motion to the council, Liberal Democrat leader Ian Marks and Conservative leader Keith Bland say they believe no decision has yet been made for the location of the GIB.
But they believe Warrington would be an excellent location for a branch of the
bank because of its excellent transport links, access to world class
technology at places such as the new Enterprise Zone at Daresbury, the
potential for strategic development at Omega and its close proximity to
existing renewable projects such as the wind farm off Crosby.
They point out that GIB would create new jobs in the area and suggest that the three party leaders at Warrington should write to Business Secretary Vince Cable, asking him to give serious consideration to Warrington as a location for the GIB.