Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what discussions he has had with pension schemes on long-term investment in UK infrastructure.

Through the Government's financial services strategy and the Pension Schemes Act 2026, the Government is taking action to improve outcomes for pension savers, support growing British businesses and increase investment in the UK economy.

Ministers and officials regularly engage with pension schemes and the wider investment industry on a range of issues, including long-term investment opportunities in UK infrastructure.

Alongside the Pension Schemes Act, the Government is encouraging pension funds to diversify and invest in private markets. The Government strongly welcomes the Mansion House Accord, an industry-led commitment by major pension providers to invest 10 per cent of their default defined contribution funds in private markets by 2030, with at least half of that invested in the UK.

The Government is also helping facilitate more institutional investment into the UK economy. The expanded British Business Bank is helping to address market gaps and crowd in investment, and the National Wealth Fund is mobilising investment into sectors and infrastructure that support long-term economic growth.

The Government keeps the impact of its policies under review and is strengthening the information available on pensions, including through the Value for Money Framework and related data collection. Regulators and the Government continue to monitor risks in financial markets to ensure that financial stability is maintained.