UK Financial Investments Limited (UKFI)

Chancellor of the Exchequer, Alistair Darling today announced that the Government’s investments will be managed on a commercial basis by a new arm’s-length company, ‘UK Financial Investments Limited’ (UKFI), which is wholly owned by the Government. Its overarching objectives will be to protect and create value for the taxpayer as shareholder, with due regard to financial stability and acting in a way that promotes competition.

Full details of the announcement can be found in this HM Treasury Press Notice:

03/11/2008 114/08 New company to manage Government’s shareholding in banks
Letter from Chancellor Alistair Darling to Rt Hon John McFall MP