The Aldersgate Group has criticised the budget for not including a comprehensive green growth strategy to drive a dynamic economic recovery
Executive director of the Aldersgate Group, Andrew Raingold said: “Public banks are driving the economic recovery around the world. This is leading to growth in jobs and not deficits.”
“We welcome the additional finance for the Green Investment Bank but it must have the power to borrow from day one. This would put the bank at the heart of Chancellor’s plan for growth and not wait until the UK is overtaken in key green industries by competitors.
“The 2011 Budget sets out a plan for growth but this does not include a comprehensive green growth strategy to drive a dynamic economic recovery.”
The Aldersgate Group is an alliance of leaders from business, politics and society that drive action for a sustainable economy.
It includes members from the construction industry including Willmott Dixon and the UK Green Building Council.
It has been leading the campaign for the Green Investment Bank and recently launched a report Greening the Economy which warns that the UK economy risks being left behind unless the government implements urgently a green growth strategy.