From Morningstar: 2024-11-15 05:04:19

Chancellor Rachel Reeves plans to create pension “megafunds” to boost the economy, with potential £80 billion to invest in businesses and infrastructure. Reforms will consolidate pension schemes and pool assets from 86 local government authorities, mirroring successful schemes in Australia and Canada. Reeves aims to drive growth and competition in financial services, pledging to rip up financial red tape and push for regulatory changes to focus on growth. The government will consult on replacing the certification regime to drive economic growth and competitiveness, while also launching a pilot scheme for “digital gilts” issued on a blockchain. Reeves will publish the first financial services growth & competitiveness strategy, focusing on areas such as financial technology, sustainable finance, and capital markets. She calls for free trade with the US and a reset with the EU post-Brexit, emphasizing the importance of economic relationships for the UK.



Read more at Morningstar: Chancellor: I’ve Warned FCA About Pension and…