Published • loading... • Updated
Chancellor to Unveil Growth Plan with £150m Fund for Northern Firms
The British Business Bank will invest between £5 million and £15 million per firm to support university spin-outs and innovative companies seeking to expand.
- On Monday, Chancellor John Healey unveiled a £150m fund for fast-growing firms in Northern England, using public investment to attract private capital as part of his plan to cultivate an "active" state.
- The British Business Bank will provide investments between £5m and £15m to support university spin-outs and "ambitious businesses," aiming to unlock private investment and create new jobs across the region.
- Shadow Chancellor Andrew Griffith called the proposal a "policy-light word salad," while Liberal Democrat Daisy Cooper argued re-announcing £150m across Northern England would "barely shift the dial on growth."
- Healey faces a challenging economic backdrop ahead of his first Budget on October 28, amid rising government borrowing costs and inflationary impacts from the war in Iran threatening his fiscal headroom.
- Helen Miller, director of the Institute for Fiscal Studies, questioned whether growth could be achieved in every postcode, noting that strengthening secondary cities remains harder than government projections suggest.
Insights by Ground AI
12 Articles
12 Articles
Healey launches £150m northern scale-up fund
Chancellor John Healey is to pile £150m into start-ups in the North of England as part of the government’s bid to use devolution to drive economic growth. Healey will announce a new fund designed to back university spin outs and other start-ups in Liverpool, Manchester, Leeds, Sheffield and Newcastle. The Chancellor will announce the fund, which will come from the British Business Bank’s existing budget, in a speech at a leading British manufa…
·London, United Kingdom
Read Full Article
Evening Standard+6 Reposted by 6 other sources
John Healey unveils £150m fund for northern firms in push for growth
The Chancellor will set out how an ‘active state’ will seek to boost investment across Britain.
·London, United Kingdom
Read Full ArticleCoverage Details
Total News Sources12
Leaning Left5Leaning Right1Center4Last UpdatedBias Distribution50% Left
Bias Distribution
- 50% of the sources lean Left
50% Left
L 50%
C 40%
Factuality
To view factuality data please Upgrade to Premium
