World
BRITAIN PLANS £20.4 BILLION CAPITAL BOOST FOR STATE-BACKED BANKS TO SUPPORT BUSINESS AND INFRASTRUCTURE
Britain is preparing to provide an additional £20.4 billion, or about $27.3 billion, to the National Wealth Fund and British Business Bank as part of next week’s government budget. Approximately £15.4 billion would go to the National Wealth Fund and £5 billion to the British Business Bank over roughly five years. The Treasury estimates the additional capital could create or support about 100,000 jobs by 2035, with investment expected to target artificial intelligence, defense manufacturing, renewable energy, infrastructure and other strategic sectors. The proposal has not yet been formally enacted.
BigV•4h ago•1 min read