UK Treasury confirms extra £20bn over five years for the so-called National Wealth Fund (£15bn) and the state-owned British Business Bank (£5bn), which lends to business. Treasury claims this will support around 100,000 jobs by 2035 in AI, defence and green energy — a figure it has pretty much plucked out of thin air and will never really be tested because by 2035 everyone will have forgotten such a modest announcement. Two takeaways: Yet more government borrowing. It’s an addiction. Illustrates government philosophy: growth will come from a bigger, more activist state. Ho hum.