英国国家审计署：2026年管理政府的财务投资报告（英文版）

In pursuit of its policy goals, the government makes loans to the private sector, or takes equity stakes in businesses. The government calls these financial transactions (FTs). In 2024, the FT portfolio was valued at £203 billion. The government usually finances these investments by borrowing. In the Autumn 2024 Budget, the government introduced a new “fiscal framework” and changed its preferred measure of national debt. This change means that any additional government borrowing made to fund