Government announces new plans to secure UK investment from institutional investors

Article summary

The government has announced new plans to secure UK investment from institutional investors, stating it is planning for long term investment in UK growth and better returns for pension savers. The plan includes the new British Growth Partnership collaboration with the British Business Bank (BBB) to create a pathway for pension funds and institutional investors to invest in innovation and startups. The collaboration aims to facilitate more investment by UK pension schemes into scaling UK companies. These long-term investments as a result of this collaboration will be made independently of government on a fully commercial basis. The government states that the BBB will seek to raise 'hundreds of millions of pounds of investment for this fund', and the government will implement a set of reforms to the BBB's financial framework that will increase its impact and ability to respond flexibly to the market. The government also announced the National Wealth Fund...