Rachel Reeves Initiates £7.3 Billion National Wealth Fund: A Comprehensive Overview
Rachel Reeves Initiates £7.3...
Subscribe to Newsletter

Rachel Reeves Initiates £7.3 Billion National Wealth Fund: A Comprehensive Overview

9 July 2024
2 min.
Rachel Reeves Initiates £7.3 Billion National Wealth Fund: A Comprehensive Overview

UK’s Path to Prosperity

In a bold move to bolster UK infrastructure projects, Chancellor Rachel Reeves is launching a £7.3bn National Wealth Fund (NWF). The fund is designed to draw private investment, aiming for a £3 private to £1 public investment ratio.

The NWF, under the stewardship of Reeves, will serve as a beacon for UK investors. The fund’s management will be handled by the UK Infrastructure Bank and the British Business Bank, a fact announced during a meeting with City executives.

Over the past several months, the Labour party has been diligently crafting the NWF. A taskforce was assembled in March to fine-tune its implementation, making it a cornerstone of the party’s manifesto in the recent election.

The National Wealth Fund (NWF) and GB Energy, two leading public entities in the UK, are poised to transform the green energy landscape. GB Energy is dedicated to producing low-carbon energy, while the NWF is strategically investing in vital infrastructure such as ports, gigafactories, clean steel, carbon capture, and green hydrogen. Soon to gain official recognition under UK law, the NWF is set to become a cornerstone of the nation's economic future. Stay tuned for more insights, which will be unveiled at the forthcoming international investment summit.

Reeves said: “I think for the first time in a long time investors will look at Britain and say it’s a country with a stable government. It’s got a clear plan, but clear mandate in the election. And that’s different from some other countries around the world today.”

Business and Trade Secretary, Jonathan Reynolds, engaged with UK business leaders to discuss crucial priorities. These encompass industrial strategy, support for small businesses, trade relations, British exports, and fair pay. He reassured that decarbonisation does not equate to deindustrialisation, with Sarah Jones poised to play a pivotal role in this agenda.

Business leaders voiced their interest in enhancing their interaction with Whitehall, boosting exports, and recognizing the significance of digitalisation. Reynolds pledged to be the most approachable business secretary, announcing the imminent launch of a dedicated email address for direct communication.

Persons3 and Companies3 in the news

British Labour Party politician
1 place
Shadow Chancellor of the Exchequer
2 place
3 place
Labour Party
3 place
Source foto:
Rating companies
13 Mention
11 Mention
Daily Mail
9 Mention
Labour Party
7 Mention
X (Twitter)
7 Mention
The Sun
6 Mention
6 Mention
5 Mention


News GlobalEng.biz -this is the latest and most up-to-date information about the resonant events that have occurred in the region. The task of the resource's news feed is to convey to readers information about important events in business, politics, economics, healthcare, culture and other spheres of life in England with maximum accuracy and objectivity.
News GlobalEng.biz - this is coverage of the economic processes taking place in England, the latest news of public life, incidents and an overview of political events. English news is information about the activities of small and medium-sized businesses, the work of housing and communal services, the implementation of significant projects. The site's journalists describe not only the life of the region, but also talk about the current state of the English economy. Everything you need to know about innovations in the field of industry and agriculture, economy and government is collected in the "News" section on GlobalEng.biz.
News of England promptly informs the reader, shows the real picture and opens up topical topics. Communication with government structures and business gives us the opportunity to provide our readers with reliable, information-rich material.
The main page of the portal contains the key news of England!
Alena Potapova

Development Director
Died this year
Born this year