Public/Private Partnerships

Debate between Lord Redwood and Lord Wilson of Sedgefield

Monday 7th September 2026 Lords Chamber

[Lord Wilson of Sedgefield (Lab)]

We committed to getting Britain investing again to support our wider economy. In April, we launched targeted support with a new regulatory regime to improve access to financial guidance, moved the long-term asset fund into the stocks and shares ISA and welcomed the industry-led Invest for the Future campaign and risk warnings review to promote the benefits of investing to the public. The Invest for the Future awareness campaign has pointed out that more and more people are willing to invest their money rather than keeping it in cash ISAs. I confirm to my noble friend that the Chancellor of the Exchequer announced this morning that regional mayors will be involved as strategic partners in the delivery of the National Wealth Fund.

[Lord Redwood (Con)]

My Lords, will the Government speed up the identification of suitable projects and the granting of the necessary permissions? There is plenty of private capital that could help the Government. Will they make sure that enough risk is transferred to protect taxpayers’ interests?

[Lord Wilson of Sedgefield (Lab)]

The noble Lord makes some very good points. I do not know whether the noble Lord heard the Chancellor’s speech earlier today, but that is one of the things he wants to do: he wants to break down all the regulation, look at ways of investing more money into infrastructure, et cetera, and make sure that investment is there from the private sector. The National Wealth Fund has £27.8 billion in it, but we want to ensure that it releases £100 billion of investment over five years.