Reported in City AM

Singapore’s sovereign wealth fund has reportedly told the government that it will not invest in regulated UK water, electricity and gas utilities due to unpredictable rules on infrastructure, in a blow for Labour’s economic strategy.

GIC, the world’s seventh-largest sovereign wealth fund with more than $800bn (£600bn) in assets, declared its stance during a private meeting with environment secretary Steve Reed earlier this month, according to The Sunday Times.

It was said that one person at the meeting, including representatives from the Abu Dhabi Investment Authority and Australian infrastructure giant Macquarie, told Reed that UK utilities were “totally off our radar at the moment” because regulators have become “too unpredictable”.

Meanwhile, Thames Water has warned that its cash may run out as soon as December. Reported in The Guardian Creditors may ease repayment terms to safeguard their current loans as troubled utility fights for survival