Covid-19: Public Wealth Investment Fund
Debate between Lord Agnew of Oulton and Viscount Trenchard
Tuesday 9th June 2020
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(4 years, 5 months ago)
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Lord Agnew of Oulton [V]
I will have to write to the noble Lord to provide specific information on that.
Viscount Trenchard (Con)
My Lords, if the Government were to establish a sovereign wealth fund, might one of its objectives be to invest in major infrastructure projects, such as the currently suspended Horizon Nuclear Power project at Wylfa, Ynys Môn?
Lord Agnew of Oulton [V]
Infrastructure is a vital part of rebuilding from this crisis. I am unsure at this stage whether it will be done through the mechanism of a sovereign wealth fund. At the moment, we have the opportunity as a national Government to borrow cheaply, which, if invested well in infrastructure, could be a simpler approach than a sovereign wealth fund.