FT – Reeves will force council pensions to merge into eight £50bn megafunds 

The FT says Chancellor Rachel Reeves hopes to unlock £80bn worth of investment by reforming local government retirement schemes to form eight pensions “megafunds”. 

It comes as the chancellor is due to deliver her first Mansion House speech, an annual address delivered by the sitting chancellor in the City of London, on Thursday. Reeves tells the paper she also wants to reassure businesses the recent tax rises were part of a “once in a parliament Budget”.