Date of Claim
13th June 2024
Economic Growth money allocation
In the Labour Manifesto, it states:
Capitalised with £7.3 billion over the course of the next Parliament, the National Wealth Fund will have a remit to support Labour’s growth and clean energy missions, making transformative investments across every part of the country. The fund will have a target of attracting three pounds of private investment for every one pound of public investment, creating jobs across the country. We plan to allocate:
- £1.8 billion to upgrade ports and build supply chains across the UK
- £1.5 billion to new gigafactories so our automotive industry leads the world
- £2.5 billion to rebuild our steel industry
- £1 billion to accelerate the deployment of carbon capture
- £500 million to support the manufacturing of green hydrogen.
Capitalised with £7.3 billion over the course of the next Parliament, the National Wealth Fund will have a remit to support Labour’s growth and clean energy missions, making transformative investments across every part of the country. The fund will have a target of attracting three pounds of private investment for every one pound of public investment, creating jobs across the country. We plan to allocate:
- £1.8 billion to upgrade ports and build supply chains across the UK
- £1.5 billion to new gigafactories so our automotive industry leads the world
- £2.5 billion to rebuild our steel industry
- £1 billion to accelerate the deployment of carbon capture
- £500 million to support the manufacturing of green hydrogen.
Sources
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