City set to learn green bank fate

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A DECISION on whether Edinburgh will host the UK Government’s new Green Investment Bank is expected within the next week.

A total of 32 cities have submitted bids, but experts say the real battle is between Edinburgh and London.

Edinburgh West Liberal Democrat MP Mike Crockart used Prime Minister’s Questions to raise the issue in the Commons, reminding David Cameron of his speech in Edinburgh last week, when he praised Scotland as a “pioneering country”.

Mr Crockart said the Capital was the “perfect location” for the bank.

He said: “The bank is a ground-breaking initiative and one which will be a vital contribution to the transition to a low-carbon economy.

“Scotland is leading the way in that field, and of all the cities in the running, Edinburgh is the only one which has the necessary skills and experience in both the financial and renewable sectors.

“The bank would be good news for the economy too bringing with it an initial £3 billion as well as the creation of 50-70 jobs by 2015.”