Investment Association Comments on the Autumn Budget

Commenting on the Autumn Budget, Chris Cummings, Chief Executive of the Investment Association, said: 

“Long-term investment plays a vital role in powering economic growth as the country emerges from the pandemic. We welcome the Budget measures that now decisively shift the debate onto the value, not just costs, delivered by investing into areas such as infrastructure and other illiquid investments, through a potential reform of the DC default charge cap.   We were also pleased to see the government’s ongoing commitment to ensuring a competitive fund regime which can reinforce the UK’s reputation as a leading international centre and further encourage innovation such as the new Long-Term Asset Fund.”

For further information, please contact:

Katie Martin, Head of Communications: [email protected]

T: +44 (0)20 7269 4655

Camilla Esmund, Communications Executive: [email protected]

T: +44 (0)20 7269 4625

IA press office: [email protected]

T: 020 7269 4696

About the Investment Association (IA):

  • The IA champions UK investment management, supporting British savers, investors and businesses. Our 270 members manage £9.4 trillion of assets and the investment management industry supports 114,000 jobs across the UK.
  • Our mission is to make investment better. Better for clients, so they achieve their financial goals. Better for companies, so they get the capital they need to grow. And better for the economy, so everyone prospers.
  • Our purpose is to ensure investment managers are in the best possible position to:
    • Build people’s resilience to financial adversity
    • Help people achieve their financial aspirations
    • Enable people to maintain a decent standard of living as they grow older
    • Contribute to economic growth through the efficient allocation of capital.
  • The money our members manage is in a wide variety of investment vehicles including authorised investment funds, pension funds and stocks and shares ISAs.
  • The UK is the second largest investment management centre in the world, after the US and manages over a third (37%) of all assets managed in Europe.