Communities secretary Eric Pickles' plan to lift the cap on council pension investments in limited partnerships assumed greater urgency this week, when it became clear the Treasury is struggling to secure crucial infrastructure funding.

The MJ understands an investment platform managed by the National Association of Pension Funds (NAPF) and set up through a memorandum of understanding with the Treasury, will fall at least £100m short of its initial investment target, unless the council pension cap is lifted.