IFA Magazine quotes James Walton on the launch of a new National Wealth Fund
Chancellor Rachel Reeves has announced the launch of a new National Wealth Fund. The fund aims to bring together key institutions and a compelling proposition for investors, and to mobilise billions in private investment, all to power green investments and infrastructure development as ‘new industries of the future’, as outlined in the Labour party manifesto.
£7.3 billion of additional funding will reportedly be allocated through the UK Infrastructure Bank so investments can start being made immediately, "focusing on further priority sectors and catalysing private investment at an even greater scale". It also comments that this funding is in addition to existing UKIB funding.
Reacting to the launch of the National Wealth Fund, James Walton, Partner in our Banking & Finance team, comments for IFA Magazine:
There is a huge wall of private capital out there with appetite to invest in the UK, particularly across the sectors which the National Wealth Fund appears to be focussed on – green and high growth industries. We can expect that there will be significant interest in the scheme from investors, but the acid test will be how accessible the funds are for the relevant businesses. When developing these schemes, legally there is a lot to think about to ensure that funds are allocated in the right places for the right reasons.
Read the full article in IFA Magazine here.
