Enterprise and Regulatory Reform Bill — Clause 4 — The UK Green Investment Bank — Ability to Borrow — 17 Oct 2012 at 16:00

The majority of MPs voted against acting to enable the UK Green Investment Bank to borrow money so it could begin operating at scale as quickly as possible.

The actions provided for in the rejected amendment included making a required European Union declaration by 31 December 2013 followed by the Treasury giving the required permission for the bank to borrow by April 2015.

MPs were considering the Enterprise and Regulatory Reform Bill[1]. The amendment rejected in this vote was:

  • Amendment 76, page 3, line 24, at end add—
  • ‘(7) Subject to the approval by the European Commission of the State aid notification concerning the establishment of the UK Green Investment Bank, the Secretary of State shall provide the European Commission with State aid notification concerning the intention to allow the Bank to borrow, including borrowing from the capital markets.
  • (8) The duty in subsection (7) must be fulfilled no later than 31 December 2013.
  • (9) It is the duty of HM Treasury and the Secretary of State to either—
  • (a) permit the UK Green Investment Bank to begin borrowing from the capital markets by April 2015, or
  • (b) to present to Parliament a report within one month of the passage of this Act giving a clear, certain, alternative date for the UK Green Investment Bank to begin borrowing, based on Office for Budget Responsibility forecasts for the public finances and advice from the Green Investment Bank on its need for borrowing powers, both subject to the European Commission approving the State aid notification concerning borrowing.’.

Had it not been rejected this amendment would have affected clause 4[2] of the Bill which was titled The UK Green Investment Bank: financial assistance.

The purpose of the amendment was described during the debate by Iain Wright MP (Hartlepool, Labour), who said[3]:

  • Our amendment would ensure that state aid approval on the green investment bank’s borrowing power would be sought and achieved no later than 31 December 2013


Debate in Parliament | Source |

Public Whip is run as a free not-for-profit service. If you'd like to support us, please consider switching your (UK) electricity and/or gas to Octopus Energy or tip us via Ko-Fi.

Party Summary

Votes by party, red entries are votes against the majority for that party.

What is Tell? '+1 tell' means that in addition one member of that party was a teller for that division lobby.

What are Boths? An MP can vote both aye and no in the same division. The boths page explains this.

What is Turnout? This is measured against the total membership of the party at the time of the vote.

PartyMajority (No)Minority (Aye)BothTurnout
Alliance0 10100.0%
Con236 (+1 tell) 1078.0%
DUP4 1062.5%
Green0 10100.0%
Independent0 10100.0%
Lab0 207 (+2 tell)082.0%
LDem45 (+1 tell) 0080.7%
PC0 2066.7%
SDLP0 2066.7%
SNP0 60100.0%
Total:285 222079.8%

Rebel Voters - sorted by vote

MPs for which their vote in this division differed from the majority vote of their party. You can see all votes in this division, or every eligible MP who could have voted in this division

Sort by: Name | Constituency | Party | Vote

Zac GoldsmithRichmond ParkConaye
Jim ShannonStrangfordDUPaye

About the Project

The Public Whip is a not-for-profit, open source website created in 2003 by Francis Irving and Julian Todd and now run by Bairwell Ltd.

The Whip on the Web

Help keep PublicWhip alive