This was not, overall, a good green Budget. The chancellor’s announcement on the Green Investment Bank attracted ire, because it will not be able to borrow significantly until 2015 at the earliest.

But what he said about the GIB was as good as could be hoped for, given the government’s unshakeable deficit-cutting priority. If all goes according to plan, the bank will be up and running in 2012 and be able to line up £18bn to back projects by 2015. (more…)