Question to the HM Treasury:

To ask the Chancellor of the Exchequer, pursuant to the Answer of 4 February 2025 to Question 27493 on British Business Bank: National Wealth Fund and with reference to the press release entitled Boost for new National Wealth Fund to unlock private investment, published on 9 July 2024, for what reason the British Business Bank will no longer be aligned under National Wealth Fund with the UK Infrastructure Bank.

The National Wealth Fund (NWF) is at the forefront of investing public money and will work in close partnership with other public financial institutions, including the British Business Bank.

The UK’s public financial institutions each target specific market failures and finance gaps to drive growth. The Government is strengthening strategic coordination across these institutions, including by creating the Strategic Public Investment Forum.

This CEO-level forum will consider how to leverage the institutions’ different expertise to best support investment and collectively identifying opportunities for greater effectiveness and coherence in the landscape.