The chancellor has been urged to make a ‘concerted effort' to break down barriers to investment so the local government pension scheme can boost growth.

Responding to comments from Rachel Reeves that she wanted pension pots like the local government pension scheme (LGPS) to emulate Canada's megafunds and invest in national infrastructure projects, the chief investment officer of Local Pensions Partnership Investments (LPPI) Richard Tomlinson said the move was ‘a strong starting point to unlocking the enormous potential within the LGPS'.