Latest news with #BenStansall
IOL News
25-05-2025
- Sport
- IOL News
Man City, Chelsea, Newcastle clinch Champions League spots
Chelsea players celebrate after their Premier League win over Nottingham Forest, which got them into the Champions League. Image: Ben Stansall / AFP Manchester City, Chelsea and Newcastle secured places in next season's Champions League as Liverpool lifted the Premier League trophy after a 1-1 draw against Crystal Palace on a dramatic final day of the season on Sunday. A record-equalling 20th league title for Liverpool and relegation for Ipswich, Leicester and Southampton had long since been decided, leaving the focus of attention on the battle for European places. Liverpool and Arsenal had already secured their place in the Champions League by finishing in the top two, while Tottenham will join them after winning the Europa League on Wednesday. City ensured a disappointing season did not end in disastrous fashion by qualifying for Europe's top competition for the 15th consecutive season by beating Fulham 2-0 to finish third. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ Ilkay Gundogan's overhead kick from close range put Pep Guardiola's men in front before Erling Haaland secured the points for the visitors from the penalty spot. Chelsea ended Nottingham Forest's dreams of a first appearance in the Champions League since they were European champions back in 1980. Levi Colwill tapped in Pedro Neto's cross for the Blues' goal in a 1-0 win at the City Ground to secure fourth place for Chelsea. Forest have to settle for seventh and a place in the UEFA Conference League. Newcastle narrowly avoided throwing away their place in the top five after losing 1-0 at home to Everton. Carlos Alcaraz's header earned the Toffees victory on Tyneside. However, the Magpies finished fifth after Aston Villa were controversially beaten 2-0 at Manchester United. Villa's hopes were dented when goalkeeper Emi Martinez was sent off just before half-time for bringing down Rasmus Hojlund outside his box.
New Statesman
22-05-2025
- Politics
- New Statesman
My plan to Trump-proof Britain
Photo by Ben Stansall/AFP This year, naturally and necessarily, is one of prolonged commemorations of the end of the Second World War. This month, the focus has been on victory in Europe. The parades have been impressive. The surviving veterans have been treated with affection and respect. The street parties have been jolly, if more subdued than I expected. I've also been surprised – and dismayed – that so little of the media coverage has reflected on the 1945 response to the end of devastating hostilities. Learning from the searing experience of prewar chaos, slump and autarky, and the brutal despotism that these generated, leaders and peoples established an international rules-based order, set up institutions of collective political and economic cooperation, and, in many cases, facilitated mixed economies and welfare states. All of that produced conditions of provision and relative peace which allowed me and many born in the 1940s to be in the 'lucky generation'. Contempt for the present Donald Trump – soon to turn 79 – might have been expected to comprehend that good fortune. As one of the most powerful men in the world, he might have wanted to extend it by sustaining freer trade, safeguarding our planet, advancing justice and strengthening liberty. He is plainly doing the opposite, demonstrating levels of amnesia about the past, contempt for the present and myopia about the future that can only be explained by a superhuman narcissism. Maybe the damage he is doing will encourage the return of a 'never again' postwar spirit, and a determination to re-establish orderliness and cohesion. Maybe. But even as a socialist who cherishes Gramsci's 'pessimism of the intellect, optimism of the will', I can't think of this galactic egotist as a benefactor of the human race, be it accidental or otherwise. Altered States There is, however, one inadvertent opportunity that could arise out of Trump's tariff rollout: it could galvanise policy changes in the UK. The Prime Minister has spoken of a 'new era'. The Chancellor rightly says that 'the world is changing before our eyes'. Neither is willing to explain why everything has shifted seismically since the tariffs were announced on 2 April, but even without pointing fingers to Washington they could say something like: 'Because of this alteration, many recent policy stances have been shredded. We must adopt an approach that is relevant to the new conditions. As a result, we will undertake three main missions. 'First, there will be a national security levy to fund defence bonds. Second, our efforts to reset relations with the EU will be accelerated as we recognise that our country will not achieve substantial growth outside the single market and the customs union. Third, we are aware that many incomes have flatlined in real terms for two decades while many assets have mushroomed and not been proportionally taxed. So, we will increase dues on high-value assets and the highest incomes. This will raise urgently needed revenue for public services, and demonstrate equity, which is particularly important in a country where there is widespread deepening inequality.' None of this is likely to become government policy, of course. But if an old patriotic progressive can't muse on such themes in the New Statesman'sDiary, where can he? Subscribe to The New Statesman today from only £8.99 per month Subscribe Choral courage The annual Festival of the London Welsh Chorale is a great bonanza of singing and includes the Welsh Young Instrumentalist of the Year Competition. The choral concert is held in the magnificent Welsh Church of Central London, a late-Victorian balconied temple of assertive nonconformism near the Mammon's boulevard of Oxford Street. Pristine cleanliness and the incense-heavy smell of furniture polish always brings back memories of chapel attendance in an otherwise happily misspent youth in South Wales. This year, the Chorale has dedicated a young musician's prize in memory of my wife, Glenys. That pleased me greatly – not least because she particularly admired young solo singers and musical performers. She said that they showed 'a special kind of talent: bravery'. She knew about that. In her childhood and early teens she regularly performed in eisteddfodau and cymanfaoedd canu (singing congregations) in the chapels of her native North Wales, overcoming terror to give angelic voice to both religious and folk songs, and, by all accounts, delighting hundreds. All that came before she gathered the supreme courage to tell her family that she was a humanist and would no longer perform. That took real guts. Neil Kinnock was leader of the Labour Party from 1983 to 1992 [See also: The EU-UK reset exposes the limits of a 'geopolitical Europe'] Related
South Wales Argus
13-05-2025
- Business
- South Wales Argus
Pension providers ‘to boost saver outcomes and UK growth' under new initiative
The Mansion House Accord aims to help defined contribution (DC) pension savers by harnessing higher potential net returns available in private markets, as well as strengthening investment in the UK. Those signing up commit to allocating at least 10% of their DC default funds in private markets by 2030, with at least 5% of the total allocated to the UK, assuming that there is a sufficient supply of suitable assets. The Government said £25 billion could be released directly into the UK economy by 2030, adding that some pension funds have already indicated privately they will go beyond the targets agreed through the accord. The commitment is subject to fiduciary duties as well as the Consumer Duty, which requires financial firms to put consumers at the heart of their products. Workers are often placed into a DC pension pot under automatic enrolment. The size of the pension pot they eventually end up with depends on factors such as how early they start saving, how much they put in and investment performance. Chancellor Rachel Reeves said the move by pension funds 'will unlock billions for major projects (Ben Stansall/PA) The initiative has been jointly led by the Association of British Insurers (ABI), the Pensions and Lifetime Savings Association (PLSA) and the City of London Corporation. Based on providers' current investment holdings, total pension assets in the scope of the agreement amount to £252 billion. The industry expects this amount to increase over the accord's lifetime. Those signing up are: Aegon UK, Aon, Aviva, Legal & General, LifeSight, M&G, Mercer, NatWest Cushon, Nest, now:pensions, Phoenix Group, Royal London, Smart Pension, the People's Pension, SEI, TPT Retirement Solutions and the Universities Superannuation Scheme (USS). The initiative builds on the Mansion House Compact, which was signed in July 2023 and saw 11 UK pension providers committing to the aim of investing 5% of DC defaults in unlisted equities, including venture capital and growth equity, by 2030. For providers who have signed up to both, progress under the compact counts towards meeting the goals of the accord. Chancellor Rachel Reeves said: 'I welcome this bold step by some of our biggest pension funds, which will unlock billions for major infrastructure, clean energy, and exciting start-ups – delivering growth, boosting pension pots, and giving working people greater security in retirement.' Pensions Minister Torsten Bell said: 'Pensions matter hugely, they underpin not just the retirements we all look forward to, but the investment our future prosperity depends on. 'I hugely welcome the pensions industry decision to invest in more productive assets, from growing companies to infrastructure. This supports better outcomes for savers and faster growth for Britain.' Yvonne Braun, director of policy, long-term savings, health and protection at the ABI, said: 'As major investors, the pensions industry already plays a vital role in driving growth in the UK and globally. 'The accord formalises the industry's ambition to invest more in private markets to diversify investments, support innovation and infrastructure, and ensure prosperity. 'Investments under the accord will always be made in savers' best interests. It is now critical that Government supports the industry's ambition, by facilitating a pipeline of suitable investment opportunities, tackling barriers to investments, and delivering wider pension reforms effectively.' Alastair King, Lord Mayor of London, said: 'If we want those firms to scale in the UK, we must ensure they have the capital to do so. This is not just about better pension outcomes, it is about building a more dynamic, competitive investment ecosystem.' Zoe Alexander, director of policy and advocacy at the Pensions and Lifetime Savings Association (PLSA), said: 'UK pension schemes already invest billions in UK growth assets. 'This accord demonstrates the collective ambition of the DC sector to do even more, as well as its confidence that the UK will provide the right opportunities to invest, consistent with schemes' fiduciary duty to members. 'The Government, in its turn, has committed to take action to ensure there is a strong pipeline of investable assets for pension schemes. With everyone playing their part, there is great potential to boost returns for savers while providing vital funding to productive growth areas.' Andy Briggs, Phoenix Group chief executive, said: 'The new commitments have the potential to strengthen the economy by fuelling the growth of British businesses and boosting investment in critical infrastructure.' Ben Pollard, chief executive, NatWest Cushon said: 'The investment case for UK private markets is strong, which is why we are a signatory to the Mansion House Compact and have also signed up to the new Mansion House Accord. 'But there is another positive angle – reconnecting people with the investments their pension is making. These types of investments are real and tangible and show savers how hard their money is working to improve their standard of living in the UK.' Patrick Heath-Lay, chief executive of People's Partnership, provider of People's Pension, said: 'By signing this accord, we are reaffirming how seriously we take our commitment to delivering better outcomes, as well as helping to drive UK economic growth.' Lorna Blyth, managing director – investment proposition at Aegon UK, said: 'The accord is a key element of the Government's growth agenda, alongside other initiatives likely to transform the UK's DC pensions market. 'It comes as the conclusions of the pensions investment review are expected imminently and further fundamental changes are expected in the Pension Schemes Bill later this spring. 'This makes it essential that the Government adopts a pragmatic approach to implementation. Realistic timeframes and a steady supply of high-quality UK investment opportunities across all private asset classes are crucial for ensuring success. 'This includes collaborating with more organisations such as the British Business Bank to provide access to diverse types of private assets – from private equity to infrastructure, which are all vital for optimising member benefits and developing investment portfolios designed for long-term growth.' Amanda Blanc, chief executive officer of Aviva Group, said: 'This is a major opportunity for the pension and investment industry to support UK growth while delivering improved outcomes for pension savers. 'As a significant investor in private markets, Aviva has recently launched a number of funds to give over four million workplace pension customers even greater opportunity to invest in UK assets, including innovative, early-stage businesses, and we want to do much more.'
Glasgow Times
13-05-2025
- Business
- Glasgow Times
Pension providers ‘to boost saver outcomes and UK growth' under new initiative
The Mansion House Accord aims to help defined contribution (DC) pension savers by harnessing higher potential net returns available in private markets, as well as strengthening investment in the UK. Those signing up commit to allocating at least 10% of their DC default funds in private markets by 2030, with at least 5% of the total allocated to the UK, assuming that there is a sufficient supply of suitable assets. The Government said £25 billion could be released directly into the UK economy by 2030, adding that some pension funds have already indicated privately they will go beyond the targets agreed through the accord. The commitment is subject to fiduciary duties as well as the Consumer Duty, which requires financial firms to put consumers at the heart of their products. Workers are often placed into a DC pension pot under automatic enrolment. The size of the pension pot they eventually end up with depends on factors such as how early they start saving, how much they put in and investment performance. Chancellor Rachel Reeves said the move by pension funds 'will unlock billions for major projects (Ben Stansall/PA) The initiative has been jointly led by the Association of British Insurers (ABI), the Pensions and Lifetime Savings Association (PLSA) and the City of London Corporation. Based on providers' current investment holdings, total pension assets in the scope of the agreement amount to £252 billion. The industry expects this amount to increase over the accord's lifetime. Those signing up are: Aegon UK, Aon, Aviva, Legal & General, LifeSight, M&G, Mercer, NatWest Cushon, Nest, now:pensions, Phoenix Group, Royal London, Smart Pension, the People's Pension, SEI, TPT Retirement Solutions and the Universities Superannuation Scheme (USS). The initiative builds on the Mansion House Compact, which was signed in July 2023 and saw 11 UK pension providers committing to the aim of investing 5% of DC defaults in unlisted equities, including venture capital and growth equity, by 2030. For providers who have signed up to both, progress under the compact counts towards meeting the goals of the accord. Chancellor Rachel Reeves said: 'I welcome this bold step by some of our biggest pension funds, which will unlock billions for major infrastructure, clean energy, and exciting start-ups – delivering growth, boosting pension pots, and giving working people greater security in retirement.' Pensions Minister Torsten Bell said: 'Pensions matter hugely, they underpin not just the retirements we all look forward to, but the investment our future prosperity depends on. 'I hugely welcome the pensions industry decision to invest in more productive assets, from growing companies to infrastructure. This supports better outcomes for savers and faster growth for Britain.' Yvonne Braun, director of policy, long-term savings, health and protection at the ABI, said: 'As major investors, the pensions industry already plays a vital role in driving growth in the UK and globally. 'The accord formalises the industry's ambition to invest more in private markets to diversify investments, support innovation and infrastructure, and ensure prosperity. 'Investments under the accord will always be made in savers' best interests. It is now critical that Government supports the industry's ambition, by facilitating a pipeline of suitable investment opportunities, tackling barriers to investments, and delivering wider pension reforms effectively.' Alastair King, Lord Mayor of London, said: 'If we want those firms to scale in the UK, we must ensure they have the capital to do so. This is not just about better pension outcomes, it is about building a more dynamic, competitive investment ecosystem.' Zoe Alexander, director of policy and advocacy at the Pensions and Lifetime Savings Association (PLSA), said: 'UK pension schemes already invest billions in UK growth assets. 'This accord demonstrates the collective ambition of the DC sector to do even more, as well as its confidence that the UK will provide the right opportunities to invest, consistent with schemes' fiduciary duty to members. 'The Government, in its turn, has committed to take action to ensure there is a strong pipeline of investable assets for pension schemes. With everyone playing their part, there is great potential to boost returns for savers while providing vital funding to productive growth areas.' Andy Briggs, Phoenix Group chief executive, said: 'The new commitments have the potential to strengthen the economy by fuelling the growth of British businesses and boosting investment in critical infrastructure.' Ben Pollard, chief executive, NatWest Cushon said: 'The investment case for UK private markets is strong, which is why we are a signatory to the Mansion House Compact and have also signed up to the new Mansion House Accord. 'But there is another positive angle – reconnecting people with the investments their pension is making. These types of investments are real and tangible and show savers how hard their money is working to improve their standard of living in the UK.' Patrick Heath-Lay, chief executive of People's Partnership, provider of People's Pension, said: 'By signing this accord, we are reaffirming how seriously we take our commitment to delivering better outcomes, as well as helping to drive UK economic growth.' Lorna Blyth, managing director – investment proposition at Aegon UK, said: 'The accord is a key element of the Government's growth agenda, alongside other initiatives likely to transform the UK's DC pensions market. 'It comes as the conclusions of the pensions investment review are expected imminently and further fundamental changes are expected in the Pension Schemes Bill later this spring. 'This makes it essential that the Government adopts a pragmatic approach to implementation. Realistic timeframes and a steady supply of high-quality UK investment opportunities across all private asset classes are crucial for ensuring success. 'This includes collaborating with more organisations such as the British Business Bank to provide access to diverse types of private assets – from private equity to infrastructure, which are all vital for optimising member benefits and developing investment portfolios designed for long-term growth.' Amanda Blanc, chief executive officer of Aviva Group, said: 'This is a major opportunity for the pension and investment industry to support UK growth while delivering improved outcomes for pension savers. 'As a significant investor in private markets, Aviva has recently launched a number of funds to give over four million workplace pension customers even greater opportunity to invest in UK assets, including innovative, early-stage businesses, and we want to do much more.'
Western Telegraph
12-05-2025
- Business
- Western Telegraph
Pension providers ‘to boost saver outcomes and UK growth' under new initiative
The Mansion House Accord aims to help defined contribution (DC) pension savers by harnessing higher potential net returns available in private markets, as well as strengthening investment in the UK. Those signing up commit to allocating at least 10% of their DC default funds in private markets by 2030, with at least 5% of the total allocated to the UK, assuming that there is a sufficient supply of suitable assets. The Government said £25 billion could be released directly into the UK economy by 2030, adding that some pension funds have already indicated privately they will go beyond the targets agreed through the accord. The commitment is subject to fiduciary duties as well as the Consumer Duty, which requires financial firms to put consumers at the heart of their products. Workers are often placed into a DC pension pot under automatic enrolment. The size of the pension pot they eventually end up with depends on factors such as how early they start saving, how much they put in and investment performance. Chancellor Rachel Reeves said the move by pension funds 'will unlock billions for major projects (Ben Stansall/PA) The initiative has been jointly led by the Association of British Insurers (ABI), the Pensions and Lifetime Savings Association (PLSA) and the City of London Corporation. Based on providers' current investment holdings, total pension assets in the scope of the agreement amount to £252 billion. The industry expects this amount to increase over the accord's lifetime. Those signing up are: Aegon UK, Aon, Aviva, Legal & General, LifeSight, M&G, Mercer, NatWest Cushon, Nest, now:pensions, Phoenix Group, Royal London, Smart Pension, the People's Pension, SEI, TPT Retirement Solutions and the Universities Superannuation Scheme (USS). The initiative builds on the Mansion House Compact, which was signed in July 2023 and saw 11 UK pension providers committing to the aim of investing 5% of DC defaults in unlisted equities, including venture capital and growth equity, by 2030. For providers who have signed up to both, progress under the compact counts towards meeting the goals of the accord. Chancellor Rachel Reeves said: 'I welcome this bold step by some of our biggest pension funds, which will unlock billions for major infrastructure, clean energy, and exciting start-ups – delivering growth, boosting pension pots, and giving working people greater security in retirement.' Pensions Minister Torsten Bell said: 'Pensions matter hugely, they underpin not just the retirements we all look forward to, but the investment our future prosperity depends on. 'I hugely welcome the pensions industry decision to invest in more productive assets, from growing companies to infrastructure. This supports better outcomes for savers and faster growth for Britain.' Yvonne Braun, director of policy, long-term savings, health and protection at the ABI, said: 'As major investors, the pensions industry already plays a vital role in driving growth in the UK and globally. 'The accord formalises the industry's ambition to invest more in private markets to diversify investments, support innovation and infrastructure, and ensure prosperity. 'Investments under the accord will always be made in savers' best interests. It is now critical that Government supports the industry's ambition, by facilitating a pipeline of suitable investment opportunities, tackling barriers to investments, and delivering wider pension reforms effectively.' Alastair King, Lord Mayor of London, said: 'If we want those firms to scale in the UK, we must ensure they have the capital to do so. This is not just about better pension outcomes, it is about building a more dynamic, competitive investment ecosystem.' Zoe Alexander, director of policy and advocacy at the Pensions and Lifetime Savings Association (PLSA), said: 'UK pension schemes already invest billions in UK growth assets. 'This accord demonstrates the collective ambition of the DC sector to do even more, as well as its confidence that the UK will provide the right opportunities to invest, consistent with schemes' fiduciary duty to members. 'The Government, in its turn, has committed to take action to ensure there is a strong pipeline of investable assets for pension schemes. With everyone playing their part, there is great potential to boost returns for savers while providing vital funding to productive growth areas.' Andy Briggs, Phoenix Group chief executive, said: 'The new commitments have the potential to strengthen the economy by fuelling the growth of British businesses and boosting investment in critical infrastructure.' Ben Pollard, chief executive, NatWest Cushon said: 'The investment case for UK private markets is strong, which is why we are a signatory to the Mansion House Compact and have also signed up to the new Mansion House Accord. 'But there is another positive angle – reconnecting people with the investments their pension is making. These types of investments are real and tangible and show savers how hard their money is working to improve their standard of living in the UK.' Patrick Heath-Lay, chief executive of People's Partnership, provider of People's Pension, said: 'By signing this accord, we are reaffirming how seriously we take our commitment to delivering better outcomes, as well as helping to drive UK economic growth.' Lorna Blyth, managing director – investment proposition at Aegon UK, said: 'The accord is a key element of the Government's growth agenda, alongside other initiatives likely to transform the UK's DC pensions market. 'It comes as the conclusions of the pensions investment review are expected imminently and further fundamental changes are expected in the Pension Schemes Bill later this spring. 'This makes it essential that the Government adopts a pragmatic approach to implementation. Realistic timeframes and a steady supply of high-quality UK investment opportunities across all private asset classes are crucial for ensuring success. 'This includes collaborating with more organisations such as the British Business Bank to provide access to diverse types of private assets – from private equity to infrastructure, which are all vital for optimising member benefits and developing investment portfolios designed for long-term growth.' Amanda Blanc, chief executive officer of Aviva Group, said: 'This is a major opportunity for the pension and investment industry to support UK growth while delivering improved outcomes for pension savers. 'As a significant investor in private markets, Aviva has recently launched a number of funds to give over four million workplace pension customers even greater opportunity to invest in UK assets, including innovative, early-stage businesses, and we want to do much more.'
