In an effort to stimulate economic growth, the UK government is planning to relax restrictions on the management of defined benefit pension schemes, which currently hold a surplus of £160 billion. This move aims to allow more of this capital to be invested in the wider economy, which has struggled with stagnation, posting zero growth between July and September. Chancellor Rachel Reeves stressed the importance of embracing new projects to uplift economic performance as the government seeks to raise living standards and improve investment prospects within the UK.
The government plans to ease restrictions on pension schemes to unlock a surplus of £160bn, aiming to bolster economic growth amid stagnation.
Chancellor Rachel Reeves emphasized there are 'no easy routes' to economic growth and urged ministers to say 'yes' to new projects.
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