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UK announces £7bn boost for new National Wealth Fund

Wealth fund will ‘unlock billions of pounds of investment’
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UK announces £7bn boost for new National Wealth FundRachel Reeves, the UK’s new chancellor of the exchequer, announces the wealth fund in a speech on July 8 (Image: Jonathan Brady/Pool via REUTERS)

The newly elected Labour government unveiled plans on Tuesday for a UK National Wealth Fund that aims to inject billions of pounds from private investment into the economy.

As part of the plan, £7.3bn will be allocated through the UK Infrastructure Bank to enable immediate investments in priority sectors and attract future private capital, the government said.

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