§ Mr. John Marshall
To ask the Secretary of State for the Environment if in the light of the failure of theNews on Sunday newspaper, he will introduce legislation to define the types of venture in which local authorities are permitted to invest pension fund money; and if he will make a statement.
§ Mr. Chope
The management, use and investment of local government superannuation fund moneys and related matters are already subject to the provisions of part P of the Local Government Superannuation Regulations 1986 (Statutory Instrument 1986 No. 24). My right hon. Friend is currently considering a number of options to control further the investment of local government pension fund monies in the light of the failure of theNews on Sunday newspaper.