Treasury written question – answered am ar 28 Mawrth 2024.
Lord Taylor of Warwick
Non-affiliated
To ask His Majesty's Government, further to the announcement by the Chancellor of the exchequer on 2 March concerning the requirement by 2027 for pension funds to disclose how much they invest in British businesses, what steps they are taking to assess the potential consequences on overall competitiveness and attractiveness of the UK as an investment destination.
Baroness Vere of Norbiton
The Parliamentary Secretary, HM Treasury
The Chancellor announced at Spring Budget that the government will introduce new requirements for Defined Contribution pension funds to disclose publicly their level of UK equity investments, working closely with the Financial Conduct Authority (the FCA) who share responsibility for setting requirements for the market. The FCA will consult in the Spring. The government will introduce equivalent requirements for Local Government Pension Scheme funds in England & Wales. The government will review what further action should be taken if the data does not demonstrate that UK equity allocations are increasing.
This complements the wider reforms that the Government and regulators are already undertaking to boost UK markets.
Yes1 person thinks so
No2 people think not
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