The chancellor’s pet PuFins have an important role – but they need more scrutiny | Nils Pratley

A regulator to keep the National Wealth Fund and the British Business Bank on mission is starting to look essential Two winners in the budget are known already.

They are the National Wealth Fund and the British Business Bank, state-funded investment bodies that have rapidly become central to the government’s growth strategy. The former chancellor Rachel Reeves handed extra slugs of capital to both and now John Healey is going…