I am pleased to announce a significant development for Northern Ireland’s business community. Following my recent engagement with Energy Secretary Ed Miliband, I have received confirmation that Northern Ireland businesses are now eligible to apply for support from the United Kingdom Sovereign Wealth Fund.
During a session in the House of Commons on February 4, 2025, I posed the following question to Secretary Miliband:
“Has the Secretary of State engaged in any discussions with Northern Ireland industries on the strategic use of the sovereign wealth fund?”
In response, Secretary Miliband stated:
“The hon. Gentleman makes an important point. I discussed this issue in detail in advance of the preparation of the Great British Energy Bill, and it is also relevant to the national wealth fund. We want our institutions to serve all countries in our United Kingdom, and I encourage him and industries in his constituency to make applications to the national wealth fund, which is there to support people and industries across the UK.”
This confirmation marks a pivotal opportunity for our local industries to access vital funding aimed at fostering innovation, growth, and sustainability. I strongly encourage businesses across Northern Ireland to explore the avenues now available through the Sovereign Wealth Fund.
For detailed information on application procedures and eligibility criteria, businesses are advised to consult the official guidelines provided by the fund. My office remains available to assist constituents with any inquiries or support needed during the application process.
This development underscores our commitment to ensuring that Northern Ireland’s economic interests are represented and supported at the national level. I will continue to advocate for initiatives that drive prosperity and opportunity for our community.
Alex Easton MP
Member of Parliament for North Down
