Gareth Davies

Gareth Davies

Conservative — Grantham and Bourne

Speaking in the House of Commons on 4 March 2025

Debate

Regional Growth: England

Contribution

The Chancellor has lauded the new National Wealth Fund as a key part of the Government’s regional growth ambitions. The trouble is, it is not actually new; it is just the UK Infrastructure Bank with a new colour scheme and £7 billion it did not need. The Prime Minister announced at a recent Labour party political conference that he will allocate £200 million from the National Wealth Fund for Grangemouth, but it is supposed to be operationally independent. Will the Minister therefore confirm that that is still the case and that the full independent investment process was followed? Will he also confirm that the unexpected resignation of the National Wealth Fund CEO just days before that announcement is not connected?

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