The government’s national wealth fund should be empowered to issue bonds to fund investments worth £100 billion over the next decade in ways that would not add to the UK’s debt burden, a think tank has found.
The New Economics Foundation (NEF), a left-leaning think tank, has called on the chancellor to use the £7.3 billion national wealth fund (NWF) as one of the main vehicles to fund investment in clean energy as the government considers changes to its fiscal rules in this month’s budget.
Rachel Reeves is expected to announce plans to use the fund’s money at the government’s landmark investment summit today, after Labour said it aimed to generate £3 from the private sector for every £1 of state funding in the fund.