Member

My understanding is that the basic assumption is that Great British Energy will be set up and that, when it is established, it should be given borrowing powers in the future. Can the Minister say what the timeframes are for giving those borrowing powers? What kind of prerequisite conditions is GB Energy expected to meet before the Treasury gives it those powers? I hope that the Minister agrees that, if the Treasury has too tight fiscal controls in its handling of GB Energy, and GB Energy was not given these investment powers so that it could borrow to invest in growing, taken together this would restrict the ability of GB Energy to meet its objectives as set out in the Bill.