Chancellor Reeves Aims to Boost UK Growth by Transforming Pension Funds

Rachel Reeves proposes regulatory reforms to create large-scale pension funds and enhance investment in UK infrastructure and businesses.

Rachel Reeves, in her first Mansion House speech as Chancellor, announced plans to dismantle financial red tape to stimulate economic growth.
She unveiled a strategy to consolidate pension schemes into 'megafunds,' similar to those in Australia and Canada, aiming to increase investment in UK infrastructure and businesses.
The proposed Pension Schemes Bill will facilitate the pooling of assets from various local government pension authorities to create these larger funds.
Reeves emphasized the need to balance regulation with growth, asserting that post-2008 financial regulations have stifled risk-taking and competitiveness.
Additional reforms include consulting on the certification regime and launching a pilot for 'digital gilts' to embrace technological advancements in finance.