Member

In closing, these regulations will maintain this important exemption for the long term. They will provide certainty for pension funds on this issue and will remove the need for the Government to renew this exemption every two years via secondary legislation if they conclude that this is necessary. They will support pension funds’ ability to generate returns, which fund the retirement benefits of future pensioners, and align with the Government’s objectives to unlock productive investment in order to support economic growth. I hope that noble Lords will join me in supporting these regulations and their objectives. I beg to move.