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Business Secretary Peter Kyle has faced criticism for stating the government will be 'picking winners' in the UK economy. On Friday, he highlighted the government's investment strategy through the British Business Bank (BBB), which includes a £25m investment in Kraken and £50m in deep tech funds.

Critics, including investor Luke Johnson, labeled Kyle's comments as indicative of a 'socialist government playing at venture capital,' warning of negative consequences for taxpayers. The BBB and National Wealth Fund have come under increased scrutiny following the last General Election, with audits revealing governance and management weaknesses. Additionally, a Reform UK government proposal includes acquiring a stake in Rolls-Royce to support its small modular reactor (SMR) program, suggesting a significant contract and capital support for the company.