The British government, led by Prime Minister Keir Starmer, is taking steps to boost investment and modernise the economy with the introduction of a National Wealth Fund. The government plans to attract private capital into new and growing industries by allocating £7.3 billion of public money through the UK Infrastructure Bank. The goal is to attract three times as much from private investors to invest in sectors like ports, hydrogen, automotives, and steel. This initiative comes as part of efforts to accelerate economic growth and meet net zero targets. The National Wealth Fund is being established as a permanent institution to drive economic modernisation. The government is focusing on aligning various state entities like the British Business Bank with the new fund to streamline investment processes and enhance productivity. The government's aim is to attract between £50 billion and £60 billion of annual investment to achieve its net zero targets. The government's move aims to dispel the 'tax and spend' image associated with the Labour party and to encourage private investors to participate in the country's economic development. By creating a consolidated investor landscape, the government seeks to reduce friction costs and improve the efficiency of investment processes. As the government works through the recommendations of advisors, the specifics of how the National Wealth Fund will operate and deploy capital will be determined in the coming months. The government also plans to introduce new legislation to establish the fund as a permanent institution. The initiative reflects a positive sentiment towards economic growth, innovation, and sustainability in the United Kingdom.