Britain's public finance institutions have mobilised at least £50 billion to support businesses, infrastructure projects and exports over the past two years, helping to sustain or create
more than 802,000 jobs, the government has said.
The funding has been delivered through four state-backed organisations – UK Export Finance (UKEF), the British Business Bank, the National Wealth Fund and Innovate UK – as ministers seek to accelerate investment under the government's Modern Industrial Strategy.
Speaking at an event in central London marking one year since the strategy was launched, Business Secretary Peter Kyle said the government had expanded the institutions' lending and investment capacity by more than £80 billion since July 2024.
That increase has raised their combined financial capacity to £193 billion, with ministers aiming to encourage long-term business investment, innovation and exports across the UK.
The four organisations are intended to provide businesses with support at different stages of growth, ranging from innovation funding and access to finance to investment and export assistance.
UK Export Finance said it had committed more than £25 billion in financing over the past two years and had increased its lending and guarantee capacity to £130 billion. Chief Executive Tim Reid said the agency would work more closely with its partner institutions under its updated mandate to support the government's industrial strategy and help businesses expand into overseas markets.
The British Business Bank said it had increased support for specialist investment funds, early-stage companies and high-growth businesses in priority sectors. Chief Executive Louis Taylor said the bank had invested more than £600 million in over 50 science and technology scale-ups through its direct equity portfolio.
The National Wealth Fund said it had committed more than £10 billion to projects across the UK, with Chief Executive Oliver Holbourn saying the institution would continue working alongside other public finance bodies to unlock investment opportunities.
Innovate UK Chief Executive Tom Adeyoola said greater financial capacity across the public institutions would help innovative companies secure funding, commercialise new technologies and expand into international markets.
The government said that, since the Modern Industrial Strategy was launched a year ago, Britain had attracted more than £380 billion in private-sector investment commitments and secured £38 billion in export announcements across key industries.
The announcement comes after UKEF and the British Business Bank unveiled a joint scheme designed to improve access to finance for small and medium-sized businesses seeking to expand overseas. The programme, due to launch next spring, will target exporters that have struggled to secure the funding needed to enter international markets.
