The chancellor’s pet PuFins have an important role – but they need more scrutiny | Nils Pratley
They are the National Wealth Fund (NWF) and the British Business Bank (BBB), state-funded investment bodies that have rapidly become central to the government’s growth strategy.
- The NWF will get another £15.4bn over the next half decade, on top of its existing £27.8bn, and there’ll be another £5bn for the BBB, which already has £30.6bn.
They are the National Wealth Fund (NWF) and the British Business Bank (BBB), state-funded investment bodies that have rapidly become central to the government’s growth strategy.
An Office for Budget Responsibility for public financial institutions like the National Wealth Fund and the British Business Bank is starting to look essential Two winners in the budget are known already.
Former chancellor Rachel Reeves handed extra slugs of capital to both and now John Healey is going further.
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