Torsten Bell

Torsten Bell

Labour — Swansea West

Speaking in the House of Commons on 13 May 2025

Debate

Mansion House Accord

Contribution

My hon. Friend is absolutely right. She has long talked about both the issues that she raises: the regional balance of investment and the ability of growing firms to get hold of growth finance. The latter is a long-standing problem in the UK economy, and today’s accord will help to address it. Although we talk about private assets and investment helping with infrastructure, it is also about providing growth capital to a wider range of firms. Obviously, the onus is on us and private asset managers to provide ways for pension funds to direct capital. Those are often small-ticket items, and pension funds will need them to be aggregated up to a higher level. That is exactly the work of the British Business Bank, which I know she has engaged with through the Select Committee. On both points, she is 100% right.

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