Question to the HM Treasury:

To ask the Chancellor of the Exchequer, with reference to the speech entitled Pension reform, published on 20 July 2026, what plans he has to encourage greater investment by pension schemes in UK infrastructure and high-growth businesses.

The Government is unlocking billions of pounds of investment through landmark reforms legislated for in the Pension Schemes Act, and through working with pension schemes to deliver on the Mansion House Accord. The government is strongly encouraged by the Accord, an industry-led, voluntary commitment by 17 of the UK’s largest pension funds to invest 10% of their default funds in private markets, with at least half of that in the UK, by 2030. We have seen positive early progress on the Accord, including new investment commitments being made. For example, Nest, one of the UK’s largest pension funds has committed to investing £200mn in venture opportunities, with ambitions to reach £1bn by the end of the decade.