HM Treasury, National Wealth Fund Subsidy

This HM Treasury, National Wealth Fund subsidy will provide the National Wealth Fund (an institution wholly owned by the government and with HMT as its sole shareholder) with an additional £5.8 billion in capitalisation.

Our key takeaways from the Subsidy Advice Unit (SAU) report are:

• Assessments should explain whether there are any less distortive means which were considered to achieve the policy objective and why they were not appropriate.
• Information should be included on how the size of the subsidy was determined and evidence of how this is the minimum necessary.
• Detail should be provided on the balancing exercise undertaken and any potential distortive effects which could arise from the subsidy.
• Assessments should, if relevant, consider how the subsidy will interact with other policy initiatives in the same area.

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