The chancellor, Jeremy Hunt, will reveal plans to release billions of pounds from British pensions to help fund fast-growing companies, as part of wider government efforts to boost growth and attract more business to the UK.
Hunt is expected to tell an audience of City leaders and chief executives on Monday that the government has reached a so-called “compact” deal with some of the UK’s largest investment firms that could see about 5% of pension fund investments reserved for early-stage businesses in sectors including life sciences and fintech.
