The chancellor has confirmed she is considering plans to consolidate local government pension schemes and use their £360bn of resources to invest in the economy. Rachel Reeves said she was interested in following the example of Canada, where pension funds are used to invest heavily in infrastructure projects to help drive growth.
'I want British schemes to learn lessons from the Canadian model and fire up the UK economy, which would deliver better returns for savers and unlock billions of pounds of investment. 'We're already beginning to see schemes announce plans to invest. That's a vote of confidence in our work to fix the foundations of the economy, rebuild Britain and make every part of our country better off.
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