Treasury pushes captive insurance decision into late summer insurance The Treasury will publish the outcome of the captive insurance consultation later this summer, City AM understands
Scottish Widows abandons Mansion House pension funds agreement Economics One of the UK’s largest pension funds has ditched a key agreement seen as crucial to Chancellor Rachel Reeves’ push to drive growth. Scottish Widows has not signed up to the second iteration of the Mansion House Compact, despite having thrown its weight behind an earlier version of the plans. The original pact saw 11 [...]
Rachel Reeves plans ISA review Business Chancellor Rachel Reeves is planning to launch a review of the ISA market in the coming weeks amid City calls to cap the amount that can be held tax-free in cash. The Treasury will kick-off a consultation to get a feel for views across the City of London on how to reform the ISA regime, [...]
Mercer: Pension funds need better pick of UK investments for key deal to work May 1, 2025 The government’s proposed pensions deal will not boost growth unless better UK investment opportunities are put on offer, the boss of one of Britain’s biggest funds has warned. In an interview with City AM, Benoit Hudon suggested a stronger pipeline of UK assets was needed as current options did not deliver good enough returns for [...]
The last thing pension funds need is a state mandated investment strategy April 30, 2025 UK pension funds don’t have the capabilities to deliver a mandated 10 per cent minimum allocation to private assets, says Toby Glaysher By threatening to enforce a 10 per cent minimum allocation to private assets, the government risks turning the Mansion House reforms from a visionary ambition into a blunt instrument. The premise behind the [...]
Mandating investment lays bare the Chancellor’s failures April 30, 2025 As Latin American countries began to allow for the creation of private pensions in the 1980s and 1990s, they faced a new dilemma on how to maximise domestic investment by these new funds. While they initially opted for a policy of strict capital controls and limits on overseas investments, everyone has to face economic reality [...]
Fear over Labour plans to allow firms to extract cash from pension schemes April 3, 2025 The vast majority of pension scheme members are “afraid” of government plans that would allow firms to take cash from defined benefit (DB) schemes for investment. Prime Minister Keir Starmer and Chancellor Rachel Reeves signalled earlier this year that “trapped surplus funds” in DB pension schemes would be unleashed for firms to invest. But a [...]
UK stock funds suffer worst year on record as investors pull nearly £10bn January 8, 2025 UK-focused stock funds suffered their worst year on record last year as investors yanked nearly £10bn from the market, new figures have shown. While equity vehicles globally raked in a record £27.2bn through 2024, UK funds haemorrhaged some £9.6bn in their most sluggish year ever relative to the performance of the wider market, according to [...]
Finance bosses optimistic about Labour plans to cut red tape December 30, 2024 A KPMG survey found seven in 10 financial services bosses think the policies will help attract foreign investment into the sector.
CBI chief: Ministers must ‘co-design’ economic growth with businesses post-Budget November 25, 2024 Businesses should have a stronger voice in setting economic growth policies, the boss of an influential business lobby group has urged, including a shift from “consultation to co-design”. Rain Newton-Smith, chief executive of the Confederation of British Industry (CBI), told attendees at the group’s annual conference that the government and firms share a “vision of [...]