The British Business Bank’s operational independence should be reviewed as part of efforts to stimulate investment in high-growth British businesses, a review commissioned by Labour’s shadow chancellor will say this week.
Sky News understands that the review, which has been led by Lord O’Neill, the former Goldman Sachs chief economist and one-time Treasury minister, will recommend that Labour explores the state-owned lender’s mandate, as well as its ability to leverage external funding.
The conclusion, one of dozens said to have been reached by Lord O’Neill and fellow panel members, forms part of Labour’s efforts to position itself as a pro-enterprise government-in-waiting.
Commissioned by Rachel Reeves, the shadow chancellor, in June, the review will be published to coincide with a business conference convened by the party.
Prominent business leaders including John Allan, the Tesco chairman, and Amanda Blanc, the Aviva…