HISTORIC PRESS RELEASE : Myners Report on Institutional Investment [March 2001]
The press release issued by HM Treasury on 6 March 2001.
Paul Myners today published his report on institutional investment, commissioned by Chancellor of the Exchequer Gordon Brown in his Budget speech on 21 March 2000.
In response, the Treasury said :
“This is an important report. The Chancellor will respond in tomorrow’s Budget. The Government will also publish a joint DSS/HMT document on the future of the MFR.”
HM Treasury and DSS announced the publication of a consultation document and joint review of the future of the minimum funding requirement (MFR), which applies to most occupational pension schemes, on 14 September 2000.
Paul Myners published his views on the MFR ahead of his main report on institutional investment in a letter to Gordon Brown and Social Security Secretary Alistair Darling on 8 November 2000. This was to enable respondents to the joint review to take account of Mr Myners’ views during this consultation, which closed on 31 January 2001. The Treasury and DSS will take account of all views received in its announcement on the outcome of the joint review.
