Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps she is taking to ensure that funding for port infrastructure through the National Wealth Fund is allocated according to the needs of each region.

The National Wealth Fund (NWF) has financial capacity totaling £27.8 billion, of which at least £5.8 billion will be committed over this Parliament to the five priority sectors that the Chancellor announced at the International Investment Summit, including ports. This capital will be targeted into investable projects that meet the NWF’s investment criteria and mandate – driving growth, clean energy and creating the jobs of the future.

The NWF will support regional and local strategies with advisory and lending support throughout the investment cycle to deliver on local priorities. In doing so, the NWF will act in partnership with central government, local government, and other public bodies, to help identify and deliver the right support for projects.