With the upcoming General Election only a few weeks away, Alistair Darling's Budget speech included a raft of measures aimed at helping businesses embrace the shift to a low carbon economy, in particular the unveiling of a much-anticipated "green equity bank".
The Chancellor announced:
- The creation of a £2 billion Green Investment Bank - £1 billion from the government plus £1 billion private sector backing - to ramp up support for green transport, sustainable energy projects and low carbon infrastructure.
- A £60 million offshore wind power competition.
- Extra support for the car industry to develop low carbon vehicles.
- Funding to support 20,000 extra university places in key areas such as science and engineering - key skills required in the shift to a low carbon economy.
- A £35 million University Enterprise Capital Fund to support spin-out ventures in growing sectors such as advanced manufacturing and low carbon goods
