Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if the National Wealth Fund will deliver £1.8 billion in ring-fenced funding for UK ports; and how much will be allocated to ports in (a) Peterhead and (b) Fraserburgh.

The National Wealth Fund will commit at least £5.8 billion over this Parliament to green hydrogen, carbon capture, ports, gigafactories and green steel sub-sectors. The National Wealth Fund’s Strategic Plan will set out where and how the NWF can deploy its capital within these sectors.

The National Wealth Fund is operationally independent, including when making investment decisions. Like all proposals, any investment made into the ports sector will be subject to the investment satisfying the National Wealth Fund’s normal requirements for investable proposals.