Treasury Committee launches inquiry into National Wealth Fund to see if it can build UK economy

NWF launched in October 2024

The Treasury Committee has launched an inquiry into the government's National Wealth Fund (NWF) in a move to understand if the fund has the “tools and backing to drive meaningful growth in the UK economy”.

The launch follow the Treasury's Statement of Strategic Priorities last week (19 March), which listed clean energy, advanced manufacturing, digital technologies and transport as priority sectors for the NWF. According to the Treasury Committee, the inquiry will try to assess how different the NWF is from its predecessor, the UK Infrastructure Bank, as well as the forthcoming steps to ensure the fund is "assessing value-for-money before making investment decisions". Tough fiscal measures 'in the offing' as investors expect Reeves to cut spending in Spring Forecast Treasury Committee...