The latest financial figures reveal that four major public finance institutions have collectively injected more than £50 billion into UK businesses and projects over the past two years, thereby safeguarding approximately 802,000 jobs nationwide. This substantial investment has been facilitated by a significant boost in their financial capabilities, unlocking an additional £80 billion in capacity across UKEF, the British Business Bank, the National Wealth Fund, and Innovate UK since July 2024. The combined financial firepower of these institutions now stands at £193 billion, intended to support long-term investment and foster economic growth across the UK.
UKEF has been a key player in this initiative, committing over £25 billion in financing over the last two years and increasing its lending and guarantee capacity to £130 billion. CEO Tim Reid highlighted UKEF's role in supporting British exporters of all sizes, unlocking investment, and driving long-term economic growth. Meanwhile, the British Business Bank has made a significant impact by backing new specialist fund managers, co-investing in early-stage companies, and supporting strategically important businesses in priority sectors.
The institution is the largest investor in UK venture and venture growth capital funds, with a direct equity portfolio supporting over 50 high-growth companies. This includes more than £600 million invested in some of the UK's fastest-growing science and technology scale-ups. The National Wealth Fund has committed over £10 billion to unlock the UK's future, with CEO Oliver Holbourn reiterating their commitment to making it easier for businesses to succeed by providing timely help, guidance, and finance.
Innovate UK is leveraging the increased capacity across the PuFins to create opportunities for ambitious businesses. By combining expertise in innovation, investment, finance, and exports, they are helping companies translate breakthrough ideas into commercial successes and scalable businesses. The collective efforts of these institutions aim to reinforce the UK's position as a world-leading hub for innovation and business growth.
Since the launch of the Modern Industrial Strategy in 2025, Britain has attracted over £380 billion in private sector commitments and secured £38 billion in export announcements across key sectors.