UK PUBLIC CAPITAL MONITOR
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UK institutions and system

Pre-Budget scrutiny — Business and workforce evidence on public finance

Independent scrutiny
Authors
Geoff Tily, Louise Hellem and David Hale
Publisher
House of Commons Treasury Committee
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What it examines

At the 20 October hearing, the TUC’s Geoff Tily proposes a longer investment horizon and a lower return requirement for the National Wealth Fund. The CBI’s Louise Hellem discusses public co-investment where there are market failures and the British Business Bank’s role in scale-up finance.

Why it matters

Shows competing proposals for how government-backed institutions should assess risk, returns and market gaps. These are witness recommendations, not changes to NWF’s mandate or investment terms.

Institutions and themes

National Wealth FundBritish Business BankMandates and policyGovernance and accountabilityCapital, funding and risk

Catalogue entry reviewed 23 Oct 2026. The summary describes the publication’s analysis; it does not establish that historical findings remain current.