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Green businesses in the West Midlands questioned the details of the Chancellor's announcement.

Andrew Whitehead, senior partner at law firm Martineau, leading the firm's energy and climate change practice, questioned the coalition's credentials as the "greenest Government ever," adding that the Budget was "something of a mixed bag".

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Manufacturing organisation EEF said the green bank funding increase was welcome, but called for focused support on the best firms.

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Chancellor George Osborne said the bank, which has been set up to support low carbon development, will have another 2 billion in funding gained from asset sales in addition to the 1 billion already announced last year.

"However, there is no indication as to how this money is going to be lent.

"As a crowd pleaser, the predicted delay in planned fuel duty increases turned into a 1p cut, and a planned rise on airline passenger tax was postponed.

The Chancellor said the Green Investment Bank would support low carbon development where the returns were too long term or too risky for the market to invest. He also said he was introducing the world's first carbon floor price to support investment in green energy.

He said the carbon floor price, which will work as a guaranteed minimum cost to emit carbon imposed on the power sector, was intended to give low carbon generation a "shot in the arm".

"Also there will be two years where it's of very little consequence."

"The bank's investment remit must now be maximised to ensure it includes low carbon manufacturing of all types, as well as decarbonisation investments for existing manufacturing."

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West Midlands were looking at this and some would be looking to put in excess of 50 kW. But now they are disincentivised."

"With a floor price which starts at 16 per tonne in 2013 but rises to 30 per tonne by 2020, this could add around 10 per cent to energy bills. Bad news for consumers, and surely further encouragement, if that were needed, that energy efficiency is the way to go."

West Midlands Friends of the Earth's campaigner Chris Crean said: "The Green Investment Bank should have been a vehicle to drive the UK's economic recovery, but by delaying the bank's borrowing Arizona Diamondbacks Hat

The Government wants to cut the subsidy New Era Lakers for installations producing 50kW to 150kW from 32.9p/kWh to 19p, while installations producing over 150kW will have their subsidy cut from 30.7p to 15.7p. Solar farms producing over 250kW would receive only 8.5p.

But, as feared by campaigners who have been calling for the Green Investment Bank, the institution will not be allowed to borrow until 2015, subject to overall financial targets being met.

He added that elsewhere there were also some unwelcome surprises for the environmental lobby.

"The Chancellor also failed to offer any ideas to turn the current 'per passenger' duty into a 'per plane' duty to discourage near empty aircraft polluting the skies.".

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But green lobby group Friends of the Earth said the bank would not do much to help the UK capitalise on the potential for green jobs growth.

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"There's no detail on how it's going to be allocated or things like minimum or maximum borrowing capacity.

powers the Treasury has sneaked round the back of the motor and siphoned off the fuel just as the rest of Government is firing up the ignition.

David Hunt of Eco Environments said the move was a step backwards.

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business experts in the West Midlands gave a tepid response to news that the Government's green investment bank will have an extra 2 billion although it won't be able to borrow until 2015.

2bn benefit for green firms delayed for years

EEF director of policy Steve Radley, said: "The increase in funding and the prospect of the bank raising further funds on capital markets is welcome news, but will only make a real difference to the UK's low carbon future if it is targeted at our best green economy prospects.

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"In the global race to develop green industry, the Treasury seems determined to make the UK lose."

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The latest Budget announcements come after the coalition earlier this month announced that incentives for solar power projects were to be slashed with subsidies for mid sized facilities being cut by half and the very largest projects having their grant cut by nearly three quarters.

"This Budget was an opportunity for the Government to reinstate its credentials as the greenest Government ever at a time when it is still reeling from the fiasco of its solar subsidy review, when it delivered a lesson in how to discourage much needed private sector investment in our fledgling green economy."

David Hunt, sales and marketing director of Tamworth renewable energy firm Eco Environments, said: "We always welcome more money available for renewable energies.

"It closes down a large part of the market and removes incentives for businesses to undertake large scale projects," he said. "A lot of businesses in the Nike Cap Maroon

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