Burnham adviser floats higher tax on pension funds’ overseas investments (opens original article in a new tab)

An adviser to Andy Burnham proposed higher taxes on UK pension funds' overseas investments to encourage domestic business funding, suggesting tax reforms to prioritize British assets over foreign ones.

• Andy Haldane suggested taxing UK pension funds more heavily for overseas investments to boost domestic business funding.
• He proposed reforming tax reliefs to incentivize investment in British companies over foreign ones, citing examples from Europe and Japan.
• Haldane criticized the current system for funding foreign investments instead of supporting UK growth, calling for a 'correction of market distortions'.