Public bodies mobilise £50 billion to drive UK economic growth and support over 802,000 jobs

At least £50 billion of public finance institution support mobilised to back UK businesses, projects and exports over the last two years.

From right to left: Chief Secretary to the Treasury Lucy Rigby with senior leaders from UK Export Finance, National Wealth Fund, Innovate UK and British Business Bank (Tim Reid, Oliver Holburn, Stian Westlake and Louis Taylor)

Investments are supporting over 802,000 jobs across all nations and regions of the UK 

Government is unlocking the financial firepower of the institutions by increasing their investment potential by more than £80 billion, supporting key priorities of the Modern Industrial Strategy  

Four of Britain’s key public finance institutions (PuFins) that are backing businesses and projects across the UK have made at least £50 billion of investments over the last two years, supporting or sustaining around 802,000 jobs. 

Business Secretary Peter Kyle outlined the major economic impact today at an event in Central London organised by UKEF to mark one year since the launch of the Modern Industrial Strategy. It was attended by Chief Secretary to the Treasury Lucy Rigby, business leaders and leaders of the four institutions: UKEF, British Business Bank, National Wealth Fund and Innovate UK. 

Since July 2024, the government has unlocked an additional £80 billion of financial capacity across the four organisations, increasing their combined firepower to £193 billion to support long-term investment and economic growth. 

PuFins work to provide businesses with a coherent and complementary package of support throughout their growth journey. By combining expertise and capabilities across innovation, access to finance, investment and exports, they help businesses start, scale, invest, innovate and reach international markets.  

UK Export Finance plays a central role alongside our fellow public finance institutions in supporting British exporters of all sizes, unlocking investment and driving long-term economic growth.