Advice to Rachel Reeves: rename the national wealth fund

The problem with the would-be chancellor’s national wealth fund is that it will not be anything like a sovereign wealth fund that its name brings to mind. Photograph: Carl Court/Getty Images

Here’s a plea to Rachel Reeves, assuming she is the next chancellor: please give your new national wealth fund a different name.

The title is misleading because, whether intentionally or not, it conjures images of a Norway-style sovereign wealth fund – a vehicle to accumulate vast long-term riches for the benefit of today’s citizens and future generations.