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  1. UK economic growth strategy using National Wealth Fund and BBB

Northern 500 Programme aims to boost regional growth in the UK

1 report, 1 independent Updated Fri 00:00
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What happened

Some supportReported by 1 outlet

The Northern 500 programme, designed to drive regional economic growth, was announced by the government and is being led by North East mayor Kim McGuinness and Paul Thwaite, chief executive of National Westminster Bank. The initiative aims to gather the North’s most ambitious mid-sized businesses into a single growth community. Funding for the programme was confirmed by the Chancellor in the Budget, and it will work alongside the British Business Bank and the National Wealth Fund.

From aol.co.uk

Why it matters

Some supportBrind's analysis of the reports

The programme seeks to help Northern firms scale, invest, and reach new markets, potentially creating jobs and driving economic growth outside of London and the South East. NatWest research indicated that additional growth of just 1% among mid-market firms could generate an extra £24bn for the economy by 2030.

John Healey has announced plans to spread economic growth across the UK, involving the National Wealth Fund, the British Business Bank, and partnerships with North East mayoral authorities.

From aol.co.uk

Who's involved

  • National Westminster BankNational Westminster Bank is a private sector partner in the Northern 500 programme.
  • Paul ThwaitePaul Thwaite is the chief executive of National Westminster Bank and a leader of the programme.
  • British Business BankThe British Business Bank is partnering with the Northern 500 programme to support SMEs.
  • National Wealth FundThe National Wealth Fund is providing financial support to the regional growth scheme.
  • John HealeyJohn Healey is involved in the broader UK economic plan to spread growth.

Who could feel it

Possible knock-on effects

These are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.

  • British Business BankSpeculative

    The British Business Bank could see its mandate and funding access expand through its partnership in the Northern 500.

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UK economic growth strategy using National Wealth Fund and BBB

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