Source · Select Committees · Treasury Committee
Recommendation 6
6
Deferred
Co-ordinate NWF liaison with British Business Bank and Innovate UK to support scaling businesses.
Conclusion
The NWF will need to liaise effectively with other public financial institutions to facilitate growth. In particular, it will have to co-ordinate with the British Business Bank and Innovate UK to support businesses that are scaling up. (Conclusion, Paragraph 41)
Government Response Summary
The government's response discusses the NWF's increased capitalisation and its current funding plans, including no immediate plans for direct private market borrowing, rather than addressing how it will liaise with other public financial institutions.
Government Response
Deferred
HM Government
Deferred
HM Treasury increased the NWF’s capitalisation by £5.8 billion to £27.8 billion, strengthening its capacity to catalyse private investment into growth and clean energy projects. The NWF is focussed on deploying its existing capitalisation and has sufficient unused capital for investments over this Parliament. As such, the government has no current plans to enable the NWF to borrow directly from private markets. Once the NWF exhausts its existing financial capacity, HM Treasury will assess the most value-for-money approach for further capitalising the NWF, in line with Managing Public Money guidance. 9