In her first Mansion House speech as Chancellor, Rachel Reeves announced ambitious plans to create pension megafunds designed to unlock up to £80 billion for investment in businesses and infrastructure.
Business leaders highlighted that restoring confidence in the UK as an investment destination is crucial, especially given concerns over the increased costs imposed on firms following the recent Budget.
The proposed pension reforms aim to consolidate defined contribution schemes and pool assets from local government pension authorities, facilitating larger, more impactful investments in high-potential sectors.
Citing successful models from Australia and Canada, the government believes that pension megafunds can leverage their size to access assets that promise greater growth opportunities.
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