Foreword
The £ 750 million Strategic Investment Fund was created at Budget 2009 to invest in the UK ’ s basic capabilities for industrial innovation , job creation and growth in a highly competitive global economy .
In the six months since its creation , the Strategic Investment Fund has committed to investments in a range of emerging industrial strengths in Britain , including low carbon vehicles , wind and wave power and renewable chemicals . It is providing seed capital for a growth fund for high-tech companies and investing in the swift rollout of high speed broadband in the UK .
The Strategic Investment Fund is not about national ownership of companies or direction of industries . Instead it has identified areas where targeted intervention by government can unlock viable technological development or help get good ideas off the drawing board . It is an important part of our commitment to actively preparing Britain ’ s economy for a balanced and sustainable recovery .
This report sets out the principles behind the Strategic Investment Fund and details of the investments that it has committed to in 2009 .
Peter Mandelson
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