Government responds to consultation on long-term DC investment in UK science and technology companies

The Government has recognised “unlocking institutional investment”, particularly DC pension capital, as a long-term ambition and has announced “an ambitious life sciences package to support economic growth”. 

It has now published a summary of responses to its March 2023 call for feedback on the Long-term Investment for Technology and Science (LIFTS) initiative, on which it is working with the British Business Bank (BBB). The objectives of the BBB are to unlock UK institutional investment, encourage investment into UK science and technology companies and to stimulate venture capital. In its development of the LIFTS project, the BBB has called for proposals from industry, with announcements of those to be taken forward expected in November 2023. The submission deadline for proposals is July 28, 2023.

The PLSA has also published a paper identifying measures to increase pension fund investment in UK growth.