Unions, environmental groups, charities and thinktanks are urging the UK government to increase the national wealth fund’s investment capacity, The Guardian reports. They link the proposal to industrial renewal and energy costs.
Ideas outlined include building retrofits, stakes in infrastructure and support for regional businesses. These are policy proposals from the organisations involved, not announced spending commitments.
What the proposal would change
The groups want the fund to operate more like a national development bank, expanding its investment capacity. The institution was designed to attract private money alongside public funding for major projects. That role differs from a sovereign wealth fund investing accumulated national resource revenues; the name alone can obscure the distinction.
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