Correspondence

The Chancellor’s Letter to the National Wealth Fund

The Chancellor has written to the National Wealth Fund (NWF) to set out where the NWF should sharpen its focus in support of the Government’s priorities.

• From: HM Treasury and The Rt Hon John Healey MP
• Published: 28 October 2026

Documents

Chancellor letter to National Wealth Fund

PDF, 261 KB, 3 pages

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Details

The Chancellor has written to Oliver Holbourn, CEO of the NWF, setting out where the NWF should sharpen its focus in support of the government’s priorities, building on its current Statement of Strategic Priorities and Strategic Plan.

The NWF has been provided with an additional £15.4 billion of capital, ensuring it can continue investing at scale in the UK’s future. The NWF’s expertise and capabilities will also be utilised to host the delivery of the new Energy Wealth Fund.

The letter asks the NWF to increase its focus on strengthening Britain’s security and strategic capabilities, delivering good growth in every postcode, and supporting a new industrial age for the UK.