That National Wealth Fund lasted a long time then

The claim was that there would be equity investment in things that would make a lovely profit, thereby making both the country and the taxpayer richer:

The National Wealth Fund will provide £200 million of investment to new opportunities in Grangemouth as part of a major intervention to ensure the long-term future of the industrial site, the Prime Minister announced today [Sunday 23 February].

This is not investment in something profit making which will make the country and the taxpayer richer. This is firehosing money at a political problem. So, that idea lasted a long time then, didn’t it?

But then this should be obvious to all. When politics decides how money is to be spent the money will be spent upon politics. How could anyone ever think otherwise?

Tim Worstall