Chancellor John Healey recently announced a £150 million fund aimed at supporting fast-growing businesses in the North of England. This initiative is part of a broader strategy to boost the UK economy through an "active state" approach, which involves the government playing a more hands-on role in fostering economic development. The British Business Bank, a government-owned institution, will commit up to £150 million to the fund. This money will be used to invest between £5 million and £15 million in innovative companies, including university spin-outs, to help them scale up. The fund will use existing resources from the bank and aims to attract additional investment from the private sector. Healey’s plan includes using public investment to encourage private capital to flow into regions across the UK, aiming to spread economic growth more evenly. He will also task the British Business Bank and the National Wealth Fund with supporting innovation and investment nationwide. The National Wealth Fund, which manages public assets for long-term economic benefit, has already formed strategic partnerships with local leaders in areas such as South Yorkshire, Liverpool City Region, the North East, and Cardiff Capital Region. These partnerships are intended to help develop infrastructure projects that can support local economies. Healey will speak at a manufacturing site to highlight the importance of an "active, accountable state" that removes obstacles to investment and creates favorable conditions for businesses. He is expected to emphasize that the next phase of Britain’s economic growth will be driven by more regions, with local leaders playing a key role in shaping this future. However, economists have raised concerns that Healey may need to raise taxes or reduce spending in other areas to maintain the financial stability built by his predecessor, Rachel Reeves. The Conservative Party criticized Healey’s announcement as a "policy-light word salad," arguing that it does little to address the concerns of families and businesses worried about potential tax increases and high government borrowing. Shadow Chancellor Andrew Griffith questioned the government’s commitment to reducing bureaucratic hurdles, given its previous actions that some see as unfriendly to business. Other critics, including Liberal Democrat deputy leader Daisy Cooper, argued that Healey’s growth strategy is undermined by the ongoing challenges of Brexit trade barriers. She called for a quicker move to finalize a Growth and Defence Deal, which would aim to boost the economy and national security. Reform UK’s economic spokesman, Robert Jenrick, criticized Healey’s approach as lacking in vision and warned that it could lead to higher taxes for working people.