Yorkshire ‘would be ideal home for new Green Bank’

The Government has been urged to make the commitment as a statement of its intent to close the North-South divide, although the city is facing competition from a number of other areas outside the capital, including Manchester and Edinburgh.

A series of MPs were due to press the case for Leeds in a Commons debate last night as part of a concerted campaign to win over Ministers.

Speaking before the debate, Leeds North West MP Greg Mulholland said: “Leeds is the second biggest financial centre in the UK outside London and the region has considerable expertise and talent both in both the financial and environmental sectors and this, together with our geographical position, is why the Leeds City Region is the perfect location for the Green Investment Bank.

“I hope the Minister takes note of the very strong case for the Green Investment Bank to be based in Leeds and look forward to working with the bid team to ensure that message gets across.”

Skipton and Ripon MP Julian Smith said: “Leeds and Yorkshire offer a compelling mix of financial skills and a track record of delivering green energy projects both small and large. From the Settle Hydro project in my constituency to the Drax biomass initiative, to Yorkshire’s world leading opportunity in carbon capture and storage, our region is jam packed with examples of our experience.”

MPs are working with business leaders, the Leeds City Region Local Enterprise Partnership (LEP) and other organisations to campaign for the bank, which will be given an initial £3bn to fund green infrastructure by 2015, in the city. Private firms have also given their backing to the campaign.

Paul Hamer, chairman of the Leeds City Region LEP’s Green Economy Panel, said: “At the heart of the UK, the Leeds City Region is one of Europe’s best destinations for business and, in our view, the best place to locate the Green Investment Bank.”