Source · Select Committees · Treasury Committee
12th Report - National Wealth Fund
Treasury Committee
HC 806
Published 28 October 2025
Recommendations
10
Rejected
Assess merits of National Wealth Fund borrowing directly from market to enhance independence.
Recommendation
The Treasury and NWF must assess the potential merits of allowing the NWF to borrow funds directly from the market to empower the NWF to enhance its independence from the Treasury when funding projects. (Recommendation, Paragraph 49) 21
Government Response Summary
The government rejects the recommendation to assess allowing the NWF to borrow from private markets, stating the NWF has sufficient existing capital and no current plans to enable direct borrowing; future capitalisation will be assessed after existing funds are exhausted.
HM Treasury
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