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 asks a great and important question. We will have more to say on this in the months ahead as we come forward with the final report of the pensions investment review and the pension schemes Bill. Some local government pension schemes have a track record of investing locally, but we need to see that at scale, and we need to see it crowding in private investment, including perhaps from private pension funds. That is exactly what our package of reforms, combined with the industry’s work with the accord today, will help us to deliver. He is absolutely right to push us on that, as I am sure he will continue to do in the months ahead given his record in previous roles. We want higher investment levels, not just in some parts but in all parts of the country.

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