The dangerous rise of pension nationalism
Pursuing domestic investment at the expense of returns is reckless
Rachel Reeves, Britain’s new chancellor, says that she has inherited the worst fiscal circumstances since the second world war. An exaggeration, perhaps, but only a small one. To address the squeeze, Ms Reeves will seek the help of Britain’s retirement savings. On July 8th she said that she wants the country’s pension funds “to drive investment in homegrown businesses and deliver greater returns to pension savers”.
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This article appeared in the Finance & economics section of the print edition under the headline “In praise of globalists”
Finance & economics July 13th 2024
From the July 13th 2024 edition
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