Policy paper

Statement of Strategic Priorities to the National Wealth Fund

The Chancellor has issued the Statement of Strategic Priorities to the National Wealth Fund, setting its strategic direction and priorities for this Parliament.

From:
HM Treasury
Published
19 March 2025

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PDF, 97.6 KB, 7 pages

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Details

  • The Statement of Strategic Priorities sets the Chancellor鈥檚 strategy for the National Wealth Fund to reflect the Government鈥檚 Plan for Change, unlocking billions of pounds of private investment into the UK.
  • The strategic direction sets clean energy, advanced manufacturing, digital technologies, and transport as priority sectors for the National Wealth Fund. Money will be invested across the United Kingdom in projects like carbon capture, green hydrogen, gigafactories, green steel, and ports. 聽
  • The Chancellor鈥檚 steer will help direct investment to the industries our defence sector relies on 鈥� advanced manufacturing and digital and dual-use technologies 鈥� working with industry to keep Britain safe and building on the Government鈥檚 commitment to increase spending on defence and national security to 2.5% of GDP from April 2027. 聽聽
  • The National Wealth Fund鈥檚 economic capital limit will be increased from 拢4.5 billion to 拢7 billion, allowing it take on greater risk. This means it has more flexibility over its investments and can support more projects that struggle to access private finance.

Updates to this page

Published 19 March 2025

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