Chancellor announces £150 million fund to boost fast-growing firms in the North
John Healey will launch a £150 million fund aimed at supporting university spin-outs and other high-growth companies across northern England.
Ahead of his first budget, Chancellor John Healey will unveil a £150 million initiative designed to back fast-growing firms in the North of England, particularly university spin-outs and innovative enterprises. The capital, drawn from allocations to the government-owned British Business Bank, will be offered in chunks of £5 million to £15 million per company. Healey frames the scheme as a supply-side measure that leverages public money to draw in private investment and reduce regional disparities.
He also plans to task the British Business Bank and the National Wealth Fund with expanding support for investment and innovation nationwide. Strategic partnerships have been secured between the National Wealth Fund and mayoral authorities in South Yorkshire, Liverpool City Region, the North East and Cardiff Capital Region, giving local leaders direct access to investment expertise for infrastructure projects. The Chancellor will argue that a more “active” state can remove red tape, foster wealth creation and help the UK navigate global economic uncertainty while maintaining fiscal discipline.
Why it matters
The fund aims to stimulate regional innovation and private investment, addressing long-standing economic imbalances in the UK.
How the sides frame it
MODERATE AGREEMENTAll camps report the Chancellor's £150 million fund for fast-growing northern firms, but right-leaning coverage adds criticism about Labour’s spending and calls for ruling out tax hikes, which left-leaning and centrist stories do not mention.
LEFT
Frames the fund as a catalyst for wealth creation, reduced red tape and a new chapter of growth across the country.
CENTER
Presents the announcement as a growth-focused plan that decentralises power to city regions and uses public money to attract private investment.
RIGHT
Describes the scheme as a supply-side initiative but emphasizes concerns over Labour’s spending and urges the Chancellor to rule out tax hikes.
The left emphasises
- wealth creation and reduced red tape
- "next chapter of Britain’s growth story"
- fundamental shift in power across the UK
The right emphasises
- supply-side measure leveraging public money
- aims to reduce regional disparities
- warnings that Labour’s spending could ‘bankrupt Britain’ and calls to rule out tax hikes
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