Four of the UK’s main public finance institutions have made at least £50 billion of investments over the last two years, according to figures set out by the government today. The support is described as backing businesses, projects and exports across all nations and regions of the UK.
Business Secretary Peter Kyle outlined the figures at an event in central London organised by UK Export Finance to mark one year since the launch of the Modern Industrial Strategy. The event was also attended by Chief Secretary to the Treasury Lucy Rigby, business leaders and the heads of UK Export Finance, the British Business Bank, the National Wealth Fund and Innovate UK.
The government said the investments by the four bodies are supporting or sustaining around 802,000 jobs. Since July 2024, it said it has unlocked an additional £80 billion of financial capacity across the institutions, increasing their combined capacity to £193 billion for long-term investment and economic growth.
The public finance institutions are intended to provide businesses with support across stages of growth, including innovation, access to finance, investment and exports. The government said their combined work is designed to help firms start, scale, invest, innovate and reach international markets.
UK Export Finance has committed more than £25 billion in financing over the last two years and has increased its lending and guarantee capacity to £130 billion. The British Business Bank said its direct equity portfolio is backing more than 50 high-growth companies, with more than £600 million invested into science and technology scale-ups.
The National Wealth Fund has committed more than £10 billion, according to the government. Innovate UK was also named as one of the four institutions whose increased capacity is being presented as part of the wider industrial strategy agenda.