questionText: To ask the Minister for the Cabinet Office, with reference to his Department's guidance entitled Public Bodies Handbook – Part 2: The Approvals Process for the Creation of New Arm’s-Length Bodies, whether his Department's public bodies team assessed the National Wealth Fund against the requirement that the creation of a new arm's length body should only be considered as a last resort; whether the Treasury provided evidence that alternative delivery models were considered; and which of the tests in Chapter Two of that guidance the National Wealth Fund met.
answerText: The UK Infrastructure Bank has become the National Wealth Fund with an expanded remit, therefore it is not a new ALB. It is captured by the government’s ongoing review of all ALBs, announced on 7 April. This review is part of the government’s plan to stre...
heading: National Wealth Fund