Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps his Department has taken to support and encourage pension funds to invest responsibly and sustainably in commercialising scientific discoveries.

The Government has a longstanding ambition to unlock institutional capital for investment into productive finance in a prudent and responsible manner. Investment in long-term, productive asset classes can offer UK savers higher potential returns as part of a diverse and balanced portfolio of investments. Since 2017, significant action has been taken to remove barriers to productive investment while ensuring that investment decisions remain the sole responsibility of fund managers and trustees

Most recently, building on regulatory measures to give institutional investors the flexibility to invest diversely, the Government has announced the Long-Term Investment for Technology & Science (LIFTS) competition. This will provide up to £500 million to support new funds designed to catalyse investment from institutional investors into the UK’s pioneering science and technology businesses.