| A Labour government would set up a UK sovereign wealth fund so that the British state could invest directly in productive projects and create a return for taxpayers, the shadow chancellor has said. John McDonnell said the creation of the fund, which could be modeled on similar institutions in countries like Norway and Qatar, would help boost flagging long-term investment.
The pledge is in contrast to that of George Osborne, who on a recent trip to China encouraged foreign countries states to buy stakes in British infrastructure projects. Mr Osborne has indicated that the new HS2 rail line and nuclear power plants would be open to Chinese investors...............................................Full Article: Source
|