§ 23. Sir William Elliott
asked the Chancellor of the Exchequer if he will take steps to encourage pension funds to invest more extensively in provincial cities; and if he will make a statement.
§ Mr. Bruce-Gardyne
Investment decisions taken by the pension funds must reflect their obligations to the beneficiaries; they are not matters for Government guidance. However, the financial institutions group studying urban problems, which has been established by my right hon. Friend the Secretary of State for the Environment, is considering ways in which institutions could be encouraged to invest in these areas in a manner consistent with their commercial obligations.