London Stock Exchange Chief Criticises Labour Proposals to Force Funds to Invest in The UK – Guido Fawkes

London Stock Exchange Chief Criticises Labour Proposals to Force Funds to Invest in The UK

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The chief executive of the London Stock Exchange has criticised Labour proposals to force pension funds to invest in UK. Reeves has been sneaking reserve powers into her pension reforms to do just that…

David Schwimmer said in the LSEG’s earnings report today:

“We are not pushing for mandation. It’s very important to take a look at the fact that the pension funds get about £49bn a year in tax incentives.”

He added making tax breaks conditional on UK investments “would seem to be very, very reasonable.” Any cack-handed intervention – including tax tweaks – usually backfires pretty quickly…