Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if he will take steps to incentivise pension funds to invest in the UK.

The Government is taking steps to strengthen capital markets, boost savings, increase pension fund transparency and facilitate investment in UK companies. Building on the announcements at Mansion House and Autumn Statement, at Spring Budget the Chancellor announced further measures incentivise pension funds to invest in the UK.

This includes introducing new requirements for DC and local government pension funds to disclose publicly their level of international and UK equity investments, and DC funds will be required to compare their performance against their largest competitors. We will then consider what further action should be taken if we are not on a positive trajectory.

These measures are to ensure that pension managers are focused on securing good returns for savers, rather than focused on driving down management fees at the expense of long-term performance.