Oral Answers to Questions

Meg Hillier Excerpts

Tuesday 8th September 2026 Commons Chamber

[Mr Speaker]

I call the Chair of the Treasury Committee.

[Dame Meg Hillier (Hackney South and Shoreditch) (Lab/Co-op)]

I welcome the Chancellor’s clampdown on speculation and leaks ahead of the Budget; it is certainly an important step he has taken. On the issue of certainty, the National Wealth Fund is a critical investor in crowding in private investment around the UK. I noted that he has changed the remit. How will he balance his desire to see change with ensuring that it is strong and stable and that there is certainty for businesses seeking to invest with the support of the National Wealth Fund?

[John Healey]

I thank my hon. Friend for that, for the work she does in chairing the Treasury Committee and for her previous work on the Public Accounts Committee. She is right about the damage of speculation ahead of Budget. It led last year, for instance, to a large number of people cashing in pension pots, but the speculation was entirely unfounded.

On my hon. Friend’s question about the National Wealth Fund, we have capitalised it by over £200 billion, and the challenge is to ensure that we get good value-for-money decisions, but decisions made quicker, so that we can get investment into local areas to see private investment bring the growth that we need.