Although the Labour Party has done more to strengthen the United Kingdom’s public-finance ecosystem in the past two years than any government in a generation, it must not stop there. If public investment is to meet its full potential, it must be reorganized to operate at scale on the public’s behalf.
LONDON—Earlier this month, UK Chancellor of the Exchequer John Healey pledged to “sharpen the focus” of the country’s public-finance institutions. Four more regions are to become strategic partners of the National Wealth Fund (NWF), and the British Business Bank will deploy an additional £150 million ($199 million) to help scale up firms in the north.
