How can the National Wealth Fund deliver economic growth in the UK?
On Wednesday afternoon, the Treasury Committee will ask industry voices whether the National Wealth Fund (NWF) has the right tools and backing to drive meaningful economic growth.
Meeting details
The NWF is able to deploy £27.8 billion to drive private investment in areas that align with the Chancellor’s priority sectors: clean energy, advanced manufacturing, digital technologies and transport.
MPs will first gather views from academics and think tank officials. Questions may consider the strategic objectives of the fund and how it compares to similar funds set up by other governments.
This will be followed by a session with representatives from the energy sector, including Siemens Energy and First Light Fusion. Questions could focus on the likelihood of the NWF contributing to the government’s ambition of achieving net zero.
The Committee will also then hear from the Green Alliance with questions likely to examine the absence of natural capital from the NWF’s priorities. MPs may also explore the support available for innovative sectors as they hear evidence from the UK’s space sector and bioindustry.