Member

As I said, the UK Infrastructure Bank was set up with specific checks and balances to prevent the misuse of funds and ensure that the public has visibility into its operations. Great British Energy hands over far greater powers to the Secretary of State, yet there is no explanation of why such sweeping authority is necessary, nor are there are any safeguards to ensure that these powers are not abused or left unchecked. The Secretary of State will therefore have the power to make key decisions without sufficient scrutiny. Again, we must ask: what accountability will there be for the £8.3 billion of taxpayers’ money being handed over? The Bill seems to grant too much discretion without the proper frameworks to hold this body to account.