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George Osborne has struck agreements with Britain’s pension funds to help fund a £30bn infrastructure package – unlocking a big new source of finance to upgrade the country’s transport, energy and communications networks.
Canadian and Australian pension funds have already invested heavily in the UK, and sovereign wealth funds in China and the Gulf are also exploring new opportunities. Treasury insiders say British pension funds felt they were “being left behind”.
High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detailto buy additional rights.
which hold roughly £800bn in assets, have committed to talks with the Treasury on investing in infrastructure, which could provide a reliable long-term source of income, providing better returns than gilts with less risk than equities.
“We believe we can unlock £20bn extra in funding for infrastructure in the UK through this initiative,” said a Treasury official, although no money has been committed.
Separately, Mr Osborne is to announce that a further £5bn of savings and cuts inside government will be switched to priority “shovel-ready” capital projects to give a quick boost to the economy.
NEWS BY:http://www.ft.com/intl/cms/s/0/0b0399f8-190e-11e1-92d8-00144feabdc0.html#axzz1gTMngCz1
George Osborne has struck agreements with Britain’s pension funds to help fund a £30bn infrastructure package – unlocking a big new source of finance to upgrade the country’s transport, energy and communications networks.
Canadian and Australian pension funds have already invested heavily in the UK, and sovereign wealth funds in China and the Gulf are also exploring new opportunities. Treasury insiders say British pension funds felt they were “being left behind”.
High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detailto buy additional rights.
which hold roughly £800bn in assets, have committed to talks with the Treasury on investing in infrastructure, which could provide a reliable long-term source of income, providing better returns than gilts with less risk than equities.
“We believe we can unlock £20bn extra in funding for infrastructure in the UK through this initiative,” said a Treasury official, although no money has been committed.
Separately, Mr Osborne is to announce that a further £5bn of savings and cuts inside government will be switched to priority “shovel-ready” capital projects to give a quick boost to the economy.
NEWS BY:http://www.ft.com/intl/cms/s/0/0b0399f8-190e-11e1-92d8-00144feabdc0.html#axzz1gTMngCz1
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