All parties should commit to setting up a sovereign wealth fund in their election manifestos, a think tank has said. Lakshmi Narayanan, chairman of the Sovereign Wealth Fund Institute (SWFI), believes the UK can 'easily' have a £395billion fund within three to five years. Narayanan said it is 'high time' for the UK to announce a sovereign wealth fund' and that a £395billion pool could be a boost for the London stock market. He added: 'Every political party should announce their intention to create a sovereign wealth fund and make it part of their first implementation plan. The Mail on Sunday last year reported Treasury officials explored the idea of setting up a sovereign fund.

Source: Daily Mail May 26, 2024 20:53 UTC