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Lord Livermore (Lab)

Speaking in the House of Lords on 25 March 2025

Debate

Strategic Priorities Statement: Defence

Contribution

I am grateful to the noble Baroness for her question. I do not agree with her criticism of the Treasury, but I agree with what she said about risk appetite. That is exactly why, when the Chancellor wrote to the National Wealth Fund, she specifically said that the “economic capital limit will … be increased from £4.5 billion to £7 billion, allowing” the National Wealth Fund to “take on greater risk”, and giving greater “flexibility over its investments” to “support more projects that struggle to access private finance”.

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