07/09/2026
𝗜𝗺𝗽𝗼𝗿𝘁𝗮𝗻𝘁 𝗱𝗲𝘃𝗲𝗹𝗼𝗽𝗺𝗲𝗻𝘁𝘀 𝘁𝗼𝗱𝗮𝘆 𝗳𝗼𝗿 𝘁𝗵𝗲 𝗡𝗼𝗿𝘁𝗵 𝗘𝗮𝘀𝘁 — 𝗮𝗻𝗱 𝗳𝗼𝗿 𝗰𝗼𝗺𝗺𝘂𝗻𝗶𝘁𝗶𝗲𝘀 𝗮𝗰𝗿𝗼𝘀𝘀 𝘁𝗵𝗲 𝗕𝗶𝘀𝗵𝗼𝗽 𝗔𝘂𝗰𝗸𝗹𝗮𝗻𝗱 𝗰𝗼𝗻𝘀𝘁𝗶𝘁𝘂𝗲𝗻𝗰𝘆.
The Government has confirmed that the North East will become one of the new strategic partners of the National Wealth Fund. This means our region will now work directly with the UK’s main investment body for clean energy, advanced manufacturing, transport upgrades and major regeneration projects.
Alongside this, a new £150 million Scale‑Up Fund for the North of England has been announced. This fund is designed to help growing businesses access the capital they need to expand, hire and innovate — especially in sectors like engineering, technology, clean energy and manufacturing.
Today’s announcements also highlighted the Government’s wider plan to shift economic power to the regions, with long‑term investment partnerships, stronger local project pipelines, and support for advanced manufacturing clusters across the North East.
What this could mean for the Bishop Auckland constituency:
More support for advanced manufacturing in places like Local Business Parks
Better access to growth finance for local engineering, tech and clean‑energy firms
Faster progress on transport and regeneration projects across Bishop Auckland, Shildon and the wider Durham area
New opportunities linked to EVs, batteries, offshore wind and clean energy supply chains
A stronger chance of attracting private investment into our towns and industries
More national backing for long‑term regional growth planning
Taken together, the National Wealth Fund partnership and the new £150m scale‑up fund represent a significant shift in how investment will flow into the North East — aiming to support jobs, modern infrastructure and long‑term economic growth.