Banking on a greener future

It is already a key component of this newspaper’s Fair Deal For Yorkshire campaign which is looking to enhance the region’s infrastructure, an initiative that now encompasses a strong Buy Yorkshire component with an array of new measures to help SMEs win more contracts locally.

If this region is to withstand the downturn, and the disproportionate increases in unemployment now being recorded in towns and cities across the North, it will require a spirit of pro-activism and entrepreneurship to put a new generation of private sector businesses at the vanguard of the region’s future – the public sector cannot be expected to keep filling this void.

It also means Yorkshire exploiting its geographical advantage, and existing expertise, to ensure that it is at the heart of the evolving renewable energy industry. This goes beyond onshore wind farms – the potential of offshore power, clean coal technology and biomass is vast and the Government recognises this.

Yet, given David Cameron’s past utterances on the need to close the North-South divide, it would be totally remiss of his government if this new bank was to be located in London just to suit the needs, and whims, of Whitehall bureaucrats.

As such, the rival bids by Leeds and Sheffield that were submitted to Ministers last night provide an opportunity to endorse this newspaper’s Fair Deal campaign with a policy that will locate decision-makers at the core of the UK’s green energy revolution.

Furthermore, this offers an early test of the recently-formed Leeds and Sheffield City Regions to show that they can work in the interests of the whole area following the demise of Yorkshire Forward.

It’s now up to this fledgling organisation and it supporters to ensure that its case is so overwhelming that the Government has no choice other than to locate the first Green Investment Bank in Yorkshire. The heat is on. For nothing less will suffice.