CBI comments on talks about pooling local government pension funds
- Published on Tuesday, 10 April 2012 15:40
- Posted by Matthew Abbott
The CBI commented on talks among London’s 34 councils to pool their pension funds to reduce costs and invest over £2bn in local infrastructure projects. This follows an announcement by the Chancellor in the Budget that he would raise money for UK infrastructure using a mixture of private investment and pension funds.
Katja Hall, CBI Chief Policy Director, said:
“These discussions are a welcome move, as pooling local government pension funds would not just reduce administrative costs it would also inject some much-needed investment into Britain’s ageing infrastructure, which is crying out for capital.
“Pension funds are natural investors in infrastructure and will want to invest in projects that are designed to give returns, so we now need to see other public sector funds coming forward in this way.”