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U.K. Finance Chiefs Push for Pension Reforms to Boost Investment and Growth

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Pension Reforms,Investment,Growth

Leading figures from the U.K.'s financial sector are urging the Labour government to prioritize pension reforms to stimulate investment and economic growth. At the annual Labour conference, industry leaders emphasized the need to make retirement schemes more competitive and encourage domestic capital investment.

U.K. finance chiefs are banging the drum for pension reforms to boost anaemic investment and growth in the country.

Liverpool, ENGLAND — U.K. finance chiefs are banging the drum for pension reforms to boost anaemic investment and growth in the country.The annual Labour conference — the centre-left party's first in power for 15 years — was awash with delegates from the City of London urging the government to move decisively with plans to make retirement schemes more competitive.

"If we do not have domestic capital investing in domestic businesses, we will not see the growth that this government is so rightly focused on," he added. Such investments could serve to further the U.K.'s strategic interests, for example by bolstering regional development, vital infrastructure, medical innovation and decarbonization, according to the government.

"The size of Canadian pension schemes means they can invest far more in productive assets like vital infrastructure than ours do," Reeves said last month.

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