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

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Join now

 

Already a Professional Pensions
member?

Login

More on Industry

TPR updates DB covenant guidance

TPR updates DB covenant guidance

Guidance for DB trustees is aligned with regulator’s funding code

Holly Roach
clock 04 December 2024 • 7 min read
UK Pensions Awards 2025: Two days left to register!

UK Pensions Awards 2025: Two days left to register!

Next year’s awards will be held on 12 June at The Brewery in London

Professional Pensions
clock 04 December 2024 • 5 min read
L&G annuity sales hit all-time high of £2bn in 2024

L&G annuity sales hit all-time high of £2bn in 2024

Following a resurgence in annuity sales in the market

Sahar Nazir
clock 03 December 2024 • 1 min read
Trustpilot