UK Treasury to Inject £20.4 Billion Into State Lenders in Budget

British finance minister John Healey will announce £20.4 billion ($27.3 billion) in additional support for the state's business lender and infrastructure bank in his budget on Wednesday, the Treasury said, confirming a newspaper report. The Treasury will allocate £15.4 billion ($20.6 billion) more to the National Wealth Fund and £5 billion ($7 billion) more to the British Business Bank over roughly half a decade. The Financial Times first reported the news. The funding is expected to support around 100,000 jobs by 2035 in sectors including artificial intelligence, defence and green energy, the Treasury said. A spokesperson stated the capital would help more British businesses while directing investment toward industries, infrastructure and regions that drive lasting growth.