The Expert Factor

How do National Wealth Funds really work?

The Expert Factor

Show Notes

What exactly is a National Wealth Fund? Lots of other countries have one - or something similar. In fact, there are 179 of them - holding up to $12.4 trillion in assets.

And now the Labour government is going to set one up too. So how do they work? Where does the money come from? Where does the money go? What are the opportunities? And what are the risks? And how might Rachel Reeves’ wealth fund vision play out?

Hannah and Paul are joined by top macroeconomist, finance expert, development specialist and sustainability adviser Sony Kapoor to explain all.

THE EXPERT FACTOR is the podcast for people who haven’t had enough of experts. Each week the directors of three leading and respected think tanks – Paul Johnson of the Institute for Fiscal Studies, Hannah White of the Institute for Government, and Anand Menon of UK in a Changing Europe – get together to discuss, debate and explain the big questions and themes that will shape the election – and the political landscape for years to come.

Produced by Milo Hynes and Podmasters. Learn more about your ad choices. Visit podcastchoices.com/adchoices

More from The Expert Factor

Jun 24, 2025

Back by popular demand, Hannah White, Paul Johnson and Anand Menon reunited on stage to record a special live episode of The Expert Factor – the podcast for people who haven’t had enough of experts.

Feb 9, 2025

A week is a long time in politics, but it is even longer in international relations. Leslie Vinjamuri, director of the US and Americas programme at Chatham House, joins Paul and Anand to work out what the complex combination of Trump, tariffs and trade negotiations means for Keir Starmer and the UK.

Jan 30, 2025

To mark the fifth anniversary of the UK’s departure from the EU, Anand, Paul and Hannah took a trip to Oxford of the Expert Factor. So how has the Brexit worked out for the UK? What questions are still being asked – and unanswered? And how might Keir Starmer and the Labour government approach the UK’s ever-evolving relationship with the EU? Learn more about your ad choices. Visit podcastchoices.com/adchoices

Jan 18, 2025

The robots are taking our jobs, we’re going to be a nation run by chatbots, and an all-seeing, all-powerful computer is set to know everything about all of us.

Jan 10, 2025

Why is the social care challenge so complicated? Why can’t the nation’s politicians find a way forward? What is a possible solution? And what could Baroness Casey do to succeed when nobody else has managed to do so?

See all episodes →