Should Britain look to Australia to solve its productivity puzzle?
Published 29 October 2024
Introduction
Among the many problems on the Chancellor’s desk as she approaches the Budget is the UK pensions sector. Despite having the third-largest stock of pension assets in the world, there is a consensus that this capital is not working for the UK, and that it is insufficiently invested in the domestic infrastructure and equities that could support greater growth. Moreover, the growth of defined contribution pensions has generated concerns that pension pots in the UK are too small and fragmented. Lacking the heft and efficiency of larger funds, they cannot make the sorts of investments that would have a significant impact on the economy.
