Covid-19: Public Wealth Investment Fund Debate
Full Debate: Read Full DebateViscount Trenchard
Main Page: Viscount Trenchard (Conservative - Excepted Hereditary)Department Debates - View all Viscount Trenchard's debates with the Cabinet Office
(4 years, 2 months ago)
Lords ChamberI will have to write to the noble Lord to provide specific information on that.
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?
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.