UK plans capital boost for public lenders
Britain is planning to provide £20.4 billion ($27.3 billion) in additional capital to two state-backed financial institutions in next week's budget.
Under the plan, £15.4 billion is expected to be allocated to the National Wealth Fund, while the British Business Bank is set to receive £5 billion over approximately five years. The additional funding is intended to support investments in artificial intelligence, defense, clean energy, and infrastructure.
The UK Treasury stated that the financial support could help sustain approximately 100,000 jobs by 2035. The government aims to increase investment in strategic sectors, improve companies' access to financing, and strengthen long-term economic growth. Final details regarding the allocation of funds are expected to be clarified in the budget announcement scheduled for October 28.
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