Rachel Reeves to unveil ‘big bang’ on British economy with biggest pension reform in decades which could unlock up to 80 billion worth of investment [Video]

17:24 EST 13 Nov 2024, updated 07:41 EST 14 Nov 2024

Rachel Reeves will today unveil a major pensions shake-up designed to unlock up to £80 billion of investment in British infrastructure and business.

In her Mansion House speech tonight, the Chancellor will confirm she is pressing ahead with plans to merge pension schemes to create new ‘megafunds’ capable of investing in major infrastructure projects and emerging industries.

Ms Reeves will argue that the move could unlock a wave of private sector investment that will boost her anaemic growth forecasts and ultimately provide better returns for pensioners.

The Chancellor will use tonight’s speech in the City of London to try to set out a positive vision for growth, following last month’s high-tax Budget, which has rattled some employers.

Pledging to ‘go for growth’, she will say she has ‘never been more optimistic about our economic potential’.

In a thinly veiled warning to Donald Trump, she will also make the …