Britain’s Prime Minister Keir Starmer and Chancellor Rachel Reeves speak with members of staff, during a visit to University Hospital Coventry and Warwickshire, in Coventry, England, Thursday, Oct. 31, 2024. Britain’s Chancellor of the Exchequer, Rachel Reeves, holds up the traditional red ministerial box containing her budget speech, as she poses for the media outside No 11 Downing Street, before departing to the House of Commons to deliver the budget in London, Wednesday, Oct. 30, 2024.
In her first so-called Mansion House speech, an annual ritual for British chancellors of the exchequer, Reeves will say that the changes could help unlock 80 billion pounds for investment. Pension funds invest in a variety of assets, such as shares, bonds, real estate and infrastructure, in an attempt to increase the retirement benefits for their members.
The new Labour government will introduce the reforms through a new bill in parliament next year. Early indications suggest that it has broad support across the political divide — the former Conservative government had indicated it would go down this route too — and within the pensions industry.Earth’s biggest polluters aren’t sending leaders to UN climate talks in a year of weather extremes