L

Lord Livermore (Lab)

Speaking in the House of Lords on 9 September 2025

Debate

Pension Funds: Use of UK-listed Investment Companies

Contribution

Our entire agenda is built around encouraging exactly what the noble Lord states. He mentioned inheritance tax. I want to clarify that pensions, and the considerable tax reliefs on them, are designed to provide income for retirement, rather than acting as a tax-planning vehicle for transferring wealth free of inheritance tax. That is an important principle to maintain. Equally, he asks how we are going to encourage investment in private assets. That is exactly what these reforms are designed to do.

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