Stephen Timms
Main Page: Stephen Timms (Labour - East Ham)Department Debates - View all Stephen Timms's debates with the HM Treasury
(1 year ago)
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Madam Deputy Speaker (Dame Rosie Winterton)
I call the Chair of the Work and Pensions Committee.
Sir Stephen Timms (East Ham) (Lab)
Defined-benefit pension funds have long been under pressure to invest in Government gilts rather than the productive economy, so I welcome the change of direction that the Minister has announced. He has indicated how much extra pension fund investment will go into high-growth companies in future. Will he indicate what share of that he expects to go into UK high-growth firms rather than overseas? He has indicated, I think, a replacement for the current charge caps on pension funds, with a wider value-for-money assessment, but can he indicate when we are likely to see the detail on what exactly he and the Under-Secretary of State for Work and Pensions, the hon. Member for Sevenoaks (Laura Trott), have in mind for that?