Exciting news from the UK Government! Chancellor Rachel Reeves and Business Secretary Jonathan Reynolds have announced the creation of a new National Wealth Fund to drive investment in future industries. Key institutions like the UK Infrastructure Bank and British Business Bank will align under this fund, unlocking billions in private investment and boosting economic growth.
A Taskforce chaired by the Green Finance Institute, including industry leaders like former Bank of England Governor Mark Carney and Aviva CEO Amanda Blanc, will guide this initiative. With an additional £7.3bn funding, immediate investments will target priority sectors to accelerate the UK's green and growth industries.
Reeves emphasizes the urgency of economic reform, stating the new fund will fix the economy's foundations and make Britain better off. Energy Secretary Ed Miliband highlights the creation of thousands of clean energy jobs and enhanced energy independence.
This bold step signals Britain's openness for business and commitment to a sustainable, prosperous future.
For further info see links below:
- https://www.gov.uk/government/news/boost-for-new-national-wealth-fund-to-unlock-private-investment
- https://www.greenfinanceinstitute.com/programmes/national-wealth-fund-taskforce/
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James MacLeod-Nairn
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