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UK Treasury omits defence from National Wealth Fund priority sectors

19 March 2025
in Business
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UK Treasury omits defence from National Wealth Fund priority sectors
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Roula Khalaf, Editor of the FT, selects her favourite stories in the Unlock the Editor’s Digest for free, highlighting the UK National Wealth Fund’s decision to prioritize clean energy, advanced manufacturing, digital technologies, and transport over the defence industry. Chancellor Rachel Reeves aims to boost “dual-use technologies” and supply chain resilience, despite the UK’s efforts to increase military spending. Labour’s initial plan for a new freestanding wealth fund was abandoned, with the existing UK Infrastructure Bank renamed the NWF and given additional funding to support the country’s industrial strengths and create high-skilled jobs.

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Tags: DefencefundNationalomitsPrioritysectorsTreasurywealth
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