Politicians from across the political spectrum have continued to express concerns over the sale of the Green Investment Bank following unconfirmed reports that preferred bidder Macquarie Group plans to sell some of the lender’s stakes in wind farms and biomass projects.

In the House of Commons, Green Party MP Caroline Lucas told Climate Change Minister Nick Hurd: “This preferred bidder, Macquarie, not only has a dismal and terrible environmental record, it also has an appalling track record of asset-stripping.”

Her comments came after former Energy Minister Lord Barker revealed that he had written to Prime Minister Theresa May expressing his concerns over the sale.

Former Business Secretary Sir Vince Cable, Labour Shadow Business and Energy Secretary Clive Lewis and the Scottish Government are among the others to have voiced concern.

MPs write to BEIS

Meanwhile, the House of Commons Environmental Audit Committee has also written to the Department for Business, Energy & Industrial Strategy (BEIS) over the issue.

Committee Chair Mary Creagh said: “Ministers have rushed to privatise the bank without consultation or proper consideration of the alternatives.

“Taxpayers do not want to see a repeat of the Royal Mail debacle where public assets were sold at bargain basement prices, and they do not want to see a landmark British institution sold off to an asset stripper.”

> Read the committee's letter