UK urged to strengthen financial muscle of national wealth fund to aid economy
publishers 1articles 1first reported 21 Sep, 04:00 UTC
Unions, thinktanks, environmental groups, and charities have called on UK ministers to enhance the financial capacity of the national wealth fund (NWF) to better support the economy. According to The Guardian, these organisations, including the TUC, Greenpeace, WWF, and the New Economics Foundation, argue that increasing the NWF’s resources could unlock lower energy bills, revitalise the UK’s industrial heartlands, and create more high-quality jobs.
The proposed measures include turbocharging the retrofitting of homes and buildings, giving the public a bigger stake in critical infrastructure through part-ownership stakes in key projects, launching targeted investment programmes to bring new green industries to communities affected by deindustrialisation, and supporting regional banks to channel funds into small businesses that are vital to local economies.
The call comes as part of a broader effort to rebalance the UK’s economy and invest in sustainable growth.
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