Question to the HM Treasury:

To ask the Chancellor of the Exchequer, with reference to the Chief Secretary to the Treasury's oral contribution of 4 March 2025, Official Report, what her policy is on the operational independence of the National Wealth Fund.

The National Wealth Fund is operationally independent and has delegated authority to make investment decisions, subject to those investments meeting certain conditions agreed with HM Treasury. An investment made by the National Wealth Fund would need to have satisfied its investment principles and internal approval processes.