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Green Deal to be underwritten by government

Chief secretary to the Treasury Danny Alexander said yesterday the Green Deal will be an early candidate for use of the government’s new loan guarantee scheme.

Alexander said the government is looking at how the Green Deal – a programme for investing in energy efficiency in the UK’s housing stock – would work with the new guarantee scheme. He added there had been over 30 expressions of interest since last month’s announcement to offer up to £40bn loan guarantees for major infrastructure projects.

“The Treasury’s door is open to discussions with any project that meets our criteria – nationally significant, financially credible, good value for the taxpayer, dependent on a guarantee, and ready to start in a year – and we will deal with applications as quickly as possible,” said Alexander.

He also added the government making “great progress” in removing barriers to investment such as working with industry to resolve radar interference affecting 4GW of wind energy developments. The government is also supporting the establishment of a new Pension Infrastructure Platform, which will make the first of its initial £2bn investment in UK infrastructure by 2013.

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