Chancellor Jeremy Hunt will unveil plans for pension fund reform aimed at boosting growth in his first Mansion House speech in London on Monday night.
Mr Hunt will address figures from the world of finance about how the sector can help the government’s priority to grow the economy.
Mr Hunt is due to outline “three golden rules” with measures to unlock capital for high-growth businesses.
Bank of England governor Andrew Bailey will also deliver a speech.
The “Mansion House Reforms” are designed to make the UK the most innovative and competitive financial centre in the world, the Treasury said.
The chancellor is expected to promise “evolutionary not revolutionary” reforms to encourage pension funds to invest up to £50bn into high-growth businesses, especially in the areas of fintech and life sciences.
Mr Hunt’s first rule will be that “first and foremost” funds must ensure the best possible outcomes for savers.
“Secondly, we will always prioritise a strong and diversified gilt market,” the chancellor is expected to say. “Those who invest in our gilts are helping to fund vital public services and any changes must recognise the vital role they play.”Finally, Mr Hunt will insist any changes to pension funds must strengthen, rather than compromise, the UK’s global competitiveness.
But the chancellor will say there can be “no sustainable growth without first eliminating the inflation that deters investment and erodes consumer confidence”.
He will also promise the government will continue to honour its “responsibilities to those struggling the most” in the face of inflation.
Around 400 people are set to attend the event at the 18th Century building.
After former chancellor George Osborne’s wedding was targeted by a protester at the weekend, Mansion House organisers said talks had taken place about security at the venue.
Environmental group Just Stop Oil denied throwing orange confetti over the newly married couple outside a church in Somerset.
A spokeswoman for the City of London Corporation, which is in charge of the venue, said “we always have adequate protections in place”.
But the venue has been targeted before by protesters – in 2019 Greenpeace activists infiltrated the black-tie event and interrupted then-chancellor Phillip Hammond as he began his speech.
Just Stop Oil said it never made any comment about its activities ahead of any demonstration.
The Treasury told the BBC it would not comment about security issues.
