Public/Private Partnerships: Shares

Lord Fox Excerpts

Monday 3rd November 2025 Lords Chamber

[Lord Wilson of Sedgefield (Lab)]

I thank my noble friend for that question; it is very good of him. As I said, we will look into how we ensure that public/private partnerships work in the future for the benefit not just of customers but of the Government and the taxpayer. We need to ensure that we move forward on this so that everybody is part of the success story, which I think they can be if it is done right.

[Lord Fox (LD)]

My Lords, I am somewhat confused by the dissonance between the Minister and the aforementioned noble Lord, Lord Livermore. When I questioned the noble Lord, Lord Livermore, on the same subject, he said that the Treasury was working on appropriate contract models. The Minister seems much more reticent about the future role of public/private partnerships. Is the Treasury in favour of them and actively seeking ways of making them work for the public, or is it sort of waiting for them to come along?

[Lord Wilson of Sedgefield (Lab)]

I thank my noble Lord for that question. I think I will leave off there; obviously, we have the Budget in three and a half weeks’ time and other announcements will be made then. We want to make this a success for the public, and that is why from next April we are going to open up stocks and shares ISAs to long-term asset funds so that everybody can benefit.