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Sir Jeremy Hunt

Sir Jeremy Hunt

Conservative — Godalming and Ash

Speaking in the House of Commons on 13 May 2025

Debate

Mansion House Accord

Contribution

I thank the Minister for building on the work of the Mansion House reforms that I introduced two years ago. Westminster works best when Governments do not automatically tear up the work of their predecessors. Who knows, with this constructive attitude, we may see some tax cuts in the autumn Budget. Does the Minister agree that there is a circularity in the argument that the reason pension funds do not invest in the UK is because returns are lower here? In Australia and America, the stock markets can depend on more than 40% of pension fund assets investing domestically to create bigger returns, compared with just 4% in the UK. Does he agree that if we are really to make these reforms fly, we will need to involve the 28,000 defined benefit schemes as well as the 4,000 defined contribution schemes?
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