Daniel Zeichner – 2016 Parliamentary Question to the Department for Communities and Local Government

The below Parliamentary question was asked by Daniel Zeichner on 2016-02-08.

To ask the Secretary of State for Communities and Local Government, if his Department will introduce a requirement that Local Government Pension Scheme funds be invested in infrastructure projects.

Mr Marcus Jones

Administering authorities in the local government pension scheme in England and Wales have been asked to explain the proportion of their funds currently allocated to infrastructure projects and what proportion they intend to invest in infrastructure in the future. The benefits of scale achieved under the new pooling arrangements will enable authorities to be more ambitious and invest in infrastructure in a way that will help drive local growth.

Administering authorities have also been asked to submit their detailed proposals for pooling their assets, including their plans to invest in infrastructure, by 19 July. The proposals will then be assessed to establish whether they comply with the Department’s criteria for the pooling of scheme assets, including infrastructure.