Government to sell its share in Green Investment Bank

Billy Ehrenberg
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It is possible the plans will be included in the emergency budget on 8 July (Source: Getty)

The Conservatives are set to step up their privatisation push, with the first sale of shares in the Green Investment Bank (GIB).

Read more: Green Investment Bank to set up £1bn offshore wind projects

Advisers from Bank of America Merrill Lynch have been coordinating with Whitehall officials to sell the GIB, which lends money to environmentally-friendly infrastructure projects.

It is possible the plans will be included in George Osborne’s emergency budget on 8 July, insiders told Sky News.

The government is not expected to sell its entire stake in GIB, but it is expected to be largely privatised. The sale is likely to be undertaken privately, rather than through a stock market listing.

As well as the GIB, the government has more names on its privatisation programme. It still owns 15 per cent of the Royal mail, and wants to sell its shares in the Lloyds Banking Group and the Royal Bank of Scotland.

The business secretary Sajid Javid will speak at a GIB event this week, and may or may not address the sale at the stakeholder event scheduled for Thursday.

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