Rachel Reeves launches £7.3bn national wealth fund
by Kalyeena Makortoff and Julia Kollewe from on (#6P32C)
Chancellor says government aims to attract billions of pounds of private cash for big infrastructure projects
The chancellor, Rachel Reeves, is launching a 7.3bn national wealth fund, as part of a drive by the newly elected Labour government to attract billions of pounds of private sector cash for big infrastructure projects across the UK.
The NWF, which Reeves said would be established in less than a week", is designed to help projects such as ports, gigafactories, hydrogen and steel projects to attract a mix of investment, aiming for roughly 3 of private funds for every 1 of taxpayer cash.
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