Team S on Newnex: UK Chancellor Rachel Reeves announces £7.3bn…

UK Chancellor Rachel Reeves announces £7.3bn National Wealth Fund Key…

Team S · 2024-07-26T19:41:10.000Z

UK Chancellor Rachel Reeves announces £7.3bn National Wealth Fund Key features: • Aims to catalyze private investment in priority sectors • Focus on green economy and industrial strategy • Targets £3 of private investment for every £1 of public funds • Goal to unlock additional £20bn in private funding Management: • Arms-length management via UK Infrastructure Bank and British Business Bank • Overseen by independent taskforce chaired by Dr. Rhian-Mari Thomas of Green Finance Institute • Mark Carney, former Bank of England governor, joins taskforce Investment priorities: • Ports, heavy industry, manufacturing • Clean energy and decarbonization projects • Regional development across UK Expected outcomes: • Creation of 650,000 jobs • Boost UK's position as "clean energy superpower" • Enhance energy independence and tackle climate change Next steps: • Legislation to make NWF a permanent institution • More details expected at Autumn 2024 international investment summit #UKEconomy #GreenInvestment #NationalWealthFund https://www.gov.uk/government/news/boost-for-new-national-wealth-fund-to-unlock-private-investment

Member Login Get Access

Team S on Newnex: UK Chancellor Rachel Reeves announces £7.3bn…