The Prime Minister announced a new National Investment Corporation to provide finance to manufacturers and other growing businesses.
This could be wonderful announcement if it helps manufacturers finance truly global growth. Or if it helps manufacturers finance investment in intangible innovations. Or if it helps them finance capital-intesive development of new technologies.
But it could be a bad thing if it simply replicates the plethora of ineffective government backed schemes to address the seemingly intractable finance gap. And how does the NIC fit with the Rowlands Growth Capital Review?
We'll wait for the details to let you know our verdict.
Oh - and how much will the NIC cost? £1billion.