Chancellor Jeremy Hunt has used his 2024 pre-Election Budget speech to announce further regulatory reforms in support of his controversial Mansion House agenda to boost the domestic stock market.
Speaking to the House of Commons this afternoon, Hunt said defined contribution and local government pension schemes would eventually be required to disclose their exposure to UK equities.
“We’ll build on the Edinburgh and Mansion House reforms to unlock more pension funds [and give] new powers to The Pensions Regulator and Financial Conduct Authority to ensure better value from defined contribution schemes by judging performance on overall returns not cost,” he told MPs.
As part of the policy, the government will proceed with its “Lifts” initiative, which was consulted upon from March to April last year in a bid to identify growth investment opportunities for pension schemes. Today, it also publishes the “winners” from that…
