Alternative Investment Fund Managers Regulations 2013 Debate
Full Debate: Read Full DebateLord Howell of Guildford
Main Page: Lord Howell of Guildford (Conservative - Life peer)Department Debates - View all Lord Howell of Guildford's debates with the HM Treasury
(9 months, 2 weeks ago)
Lords ChamberMy Lords, some of the issues that the noble Lord sets out are why it is important to take forward the programme of reform in a measured way that takes into account the interests of all involved in the sector, whether industry or consumers, and makes sure that we have proper consultation in everything that we do.
My Lords, I think the bottom line of this Question is how to get trillions invested in our pension industries back into British enterprise and investment again. At one stage this was considerable, at about 60%, and it is now down to 40%. Is this not a matter of prime urgency in getting the economy really moving again? Can my noble friend outline the key steps she thinks should be taken, or are being taken, to get our pensions trillions back into British industry in a massive way?
My noble friend is absolutely right about ensuring that pension funds are invested in the future of British industry. In fact, this was the theme of my right honourable friend the Chancellor’s Mansion House speech this year. He set out a number of reforms that the Government are taking forward to support this. There was rapid consultation on a number of those areas, and we expect further updates at the Autumn Statement.