Mark Carney to reveal private funding for Labour spending pledges

Britain’s most powerful business leaders will reveal plans this week to unlock billions of pounds in private investment.

Mark Carney, the former governor of the Bank of England, has been leading a task force advising Rachel Reeves, the chancellor, on the creation of a national wealth fund. It will publish its findings on Tuesday.

The group includes two FTSE 100 bosses, Dame Amanda Blanc, the chief executive of the insurer Aviva, and CS Venkatakrishnan, the chief executive of Barclays bank.

It has been looking at new ways to fund Labour’s spending pledges since Jeremy Hunt used his last budget as chancellor in March to scrap the non-dom tax status — a key Labour pledge — and put the money towards cutting national insurance.

Weeks earlier