UK Business Secretary Threatens to Force Pension Funds to Invest Domestically

Peter Kyle told Britain's pension funds to "get off their high horses" and invest in UK assets or face legal mandate. Frustrated by a pattern where the City requests regulatory relief, then fails to increase domestic capital allocation, Kyle said he would compel investment if necessary. Chancellor Rachel Reeves already secured legislative powers to mandate pension fund domestic investment—a backstop mechanism unavailable before 2028, designed to protect savers' returns, expiring in 2032 if unused.