UK - Conservative Party leader Iain Duncan Smith has warned that institutional investors could pull out of the UK following the government's actions over Railtrack.
The warning comes in the Opposition leader's introduction to the new Crawford’s Directory of City Connections 2002. He claims that leading US fund managers – including Franklin Mutual – have lost confidence in the UK government.
Duncan Smith says that the government’s actions indicate that the Labour Party does not believe in privatisation. He added: “The government’s confiscation of Railtrack has been a particular worry for investors. Fund managers who control billions of dollars of investments feel that the UK is no longer a safe bet in which to invest. The Railtrack affair marked a real turning point in Labour’s relationship with business.”
By Jonathan Stapleton
This week's top stories included Cardano announcing plans to acquire Now Pensions from a Dutch pension fund later this year.
Royal Bank of Scotland (RBS) faces a £102m impact on liabilities as a result of equalising guaranteed minimum pensions (GMPs), according to its annual results.
Malcolm Mclean says getting the channels of communication right and engaging more openly is a good starting point