Chancellor Hunt earmarks £320m for funds backing UK innovation

Mansion House reforms discussed by chancellor ahead of Autumn Statement tomorrow

clock • 5 min read
Chancellor of the Exchequer Jeremy Hunt (pictured), Credit: UK Parliament. Attribution 3.0 Unported (CC BY 3.0)
Image:

Chancellor of the Exchequer Jeremy Hunt (pictured), Credit: UK Parliament. Attribution 3.0 Unported (CC BY 3.0)

The UK’s “most promising” high-growth companies will receive backing from new investment vehicles designed to encourage pension funds to invest in them, in the first £320m tranche of the government’s Mansion House reforms.

Of the announced investment, £250m will go to two unnamed bidders under the Long-term Investment for Technology and Science (LIFTS) initiative, which works to establish new funds to invest in scien...

To continue reading this article...

Join Professional Pensions

  • Unlimited access to real-time news, analysis and opinion from the industry
  • Receive our in-depth monthly magazine in either print or digital format
  • Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
  • Receive important and breaking news stories selected by the Editors in our daily newsletter
  • Hear from industry experts and other forward-thinking leaders
  • Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date

Join now

 

Already a Professional Pensions
member?

Login

More on Industry

Industry reacts to Labour Party manifesto

Industry reacts to Labour Party manifesto

Industry says questions remain over many pension policy details

Jasmine Urquhart
clock 13 June 2024 • 6 min read
Labour Party manifesto pledges pension review and climate action

Labour Party manifesto pledges pension review and climate action

Review will consider steps needed to improve outcomes and boost productive investment

Martin Richmond
clock 13 June 2024 • 1 min read
Green party sets out manifesto commitments

Green party sets out manifesto commitments

Fossil fuel divestment, pensions tax relief equalisation and state pension promise

Jasmine Urquhart
clock 12 June 2024 • 3 min read
Trustpilot