British Finance Minister John Healey is expected to announce £20.4 billion ($27.3 billion) in further support for the state’s infrastructure bank and commercial lender in Wednesday’s budget.
Over about five years, the Treasury will give the National Wealth Fund an additional £15.4 billion ($20.6 billion) and the British Business Bank an additional £5 billion ($7 billion).
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“This additional capital will help more British businesses fulfill their potential while getting investment behind the industries, infrastructure, and places that create good jobs and drive lasting growth across the country,” a Treasury spokeswoman said in an email statement.
According to the Treasury, the money would sustain almost 100,000 jobs by 2035 in industries like green energy, defense, and artificial intelligence.
