WASHINGTON, April 16 (Reuters) – The finance ministers of Britain and Australia have agreed to \u200cwork together more closely to funnel investment \u200cfrom Australia’s giant pension funds into new infrastructure, housing and \u200benergy projects in the UK.<\/p>\n
Britain’s Treasury said in a statement on Thursday that finance minister Rachel Reeves and Australia’s Treasurer Jim Chalmers signed a memorandum \u200cof understanding on \u2060the sidelines of the International Monetary Fund and World Bank spring meetings in \u2060Washington.<\/p>\n
“At a time of global uncertainty, this deal strengthens the UK’s economic security by cementing cooperation with a like-minded nation and setting \u200bclear direction \u200bfor future investment,” \u200bReeves said in the \u200cTreasury’s statement.<\/p>\n
Australia’s pension funds are a global investment force, while British Prime Minister Keir Starmer’s government is seeking foreign partners to speed up the country’s economy.<\/p>\n
The MoU creates a formal framework for engagement \u200cbetween Australian investors and UK \u200bauthorities and supports pipelines for \u200binvestment opportunities, the \u200bTreasury said.<\/p>\n
“We have significant infrastructure and \u200cproperty investments in the UK, \u200bworking alongside \u200bour world-class partners,” said Debby Blakey, the CEO of HESTA, an Australian pension fund. “Initiatives like \u200bthis can support \u200cfurther investment in areas such as the \u200bdigital and energy transitions.”<\/p>\n
(Writing by William Schomberg; \u200bEditing by Paul Simao)<\/p>\n","protected":false},"excerpt":{"rendered":"WASHINGTON, April 16 (Reuters) – The finance ministers of Britain and Australia have agreed to \u200cwork together more…\n","protected":false},"author":2,"featured_media":15469,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[583,13,7329,7327,375,1322,371,7328,603,2934,182,1892,5,6],"class_list":{"0":"post-15468","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-uk","8":"tag-australia","9":"tag-britain","10":"tag-energy-projects","11":"tag-finance-ministers","12":"tag-infrastructure","13":"tag-international-monetary-fund","14":"tag-investment","15":"tag-jim-chalmers","16":"tag-pension-funds","17":"tag-prime-minister-keir-starmer","18":"tag-rachel-reeves","19":"tag-treasury","20":"tag-uk","21":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@UnitedKingdom\/116417758726457373","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/15468","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/comments?post=15468"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/15468\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media\/15469"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media?parent=15468"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/categories?post=15468"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/tags?post=15468"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}