Sterling 20 initiative welcomed, but attention must also be on driving global growth
Pensions & benefits Mansion house reforms Economy
Britain’s top pension providers and insurers are set to create the Sterling 20 group to drive investment growth tomorrow (21 October).
LCP Partner Stephen Budge commented:
“It’s great to see further commitments being made to invest in the UK. However, we need to be careful that UK pensions don’t just aim to fix UK Plc problems; the focus must be on driving opportunities for global growth. These commitments, coordinated by the Government, are increasingly focusing on property and infrastructure, which are very UK-centric needs and opportunities. After all, we do love our homes, and this does little to increase the UK’s development of global businesses of the future.
“The Government agreed to a number of ‘critical enablers’ as part of supporting the Mansion House Accord 2030 targets, which included ‘a pipeline of UK investment opportunities’. Let’s hope we see support for growth in a wider range of asset class opportunities.”
