New multi- billion National Wealth Fund to be driven from Leeds

The newly announced £7.3bn National Wealth Fund, a key part of the Government’s plan to boost growth and unlock investment as part of the UK’s transition to a low carbon economy, will be delivered through the UK Infrastructure Bank in Leeds.

As the UK’s second largest city for financial and professional services, and as one of the global cities leading the way on climate action, Leeds will play a pivotal role in solving some of the biggest challenges presented as the UK transitions to a 21st century sustainable economy.

Commenting on the announcement, Councillor James Lewis, leader of Leeds City Council said:

“Leeds is the UK’s second largest city for financial services, and a major hub for related  professional services, and this latest announcement further reinforces the city's progress and influence as we continue to attract major players such as the UK infrastructure Bank, Bank of England and the Financial Conduct Authority  who have all chosen to locate their major UK hubs in our city.

“These developments create exciting opportunities for local people, offering a wealth of new jobs and career paths. We have huge strengths in this area, and offer a wealth of expertise underpinned by strong regional, national and international partnerships and a diverse range of businesses which puts us in a great position to support this initiative.

James Emmett, UK Infrastructure Bank COO, said: 

“The UK Infrastructure Bank has put down deep roots in Leeds, and we are proud to have played an active role contributing to the economic and professional vibrancy of the city. The rich financial talent pool on offer in Leeds has allowed us to build-out the skills and expertise that will be crucial as we continue to deliver on our mandate and deploy the additional £7.3bn we have been allocated.”  

Find out more about the National Wealth Fund - Boost for new National Wealth Fund to unlock private investment - GOV.UK (www.gov.uk)