Newsroom & speeches
93/01
30 July 2001
Gordon Brown and Alistair Darling welcome launch of Sandler review consultation document on retail savings
The Government welcomed the launch by the independent Sandler review of its consultation document, which was published today.
Gordon Brown MP, Chancellor of the Exchequer said:
“UK institutional investors control more than £1.5 trillion in assets, including half the quoted equity markets. Following on from Paul Myners’ review, the work that Ron Sandler is undertaking is the next important stage, in the process of reviewing the efficiency and flexibility of the savings and investment industries.
“Working closely with the FSA, Ron will be examining the forces and incentives which drive the retail savings industry and its approach to investment to see whether resources are being allocated efficiently and whether consumers are being well served.”
Alistair Darling MP, Secretary of State for Work and Pensions said:
“The vast bulk of this investment comes from pension schemes. We want to encourage more people to save for their retirement and to ensure that they receive value for money and a fair deal. Ron Sandler will be looking at ways in which customers can make more informed choices by having greater transparency and openness and as competitive a market as possible. Ron Sandler's wide-ranging review will complement the measures I have taken so far such as the 1% cap on stakeholder pension charges to get a better deal for the public.”
Notes to editors
1. The review of the long-term retail savings market was set up at the recommendation of Paul Myners in his report on Institutional Investment (Treasury press notice 29/01 of 6 March 2001).
2. Chancellor of the Exchequer, Gordon Brown, announced the setting up of the retail savings and investments review at the launch of Enterprise for All – the Challenge for the Next Parliament on 18 June 2001 (Treasury press notice 67/01). He invited Ron Sandler, former CEO of Lloyds of London and COO of NatWest Bank, and now Chairman of Computacenter and Kyte Group, to lead the review.
3. The consultation document was launched today by Ron Sandler at a press conference. Click on the link below for the full document in pdf format and printed copies are available from the Treasury Public Enquiry Unit on 020 7270 4558.
4. Responses to the review can be sent to Ron Sandler at the following address:
HM Treasury's
Allington Towers
19 Allington Street
London
SW1E 5EB
or by email using the link below.
5. Responses should arrive by 28 September 2001.
6. Media enquiries should be addressed to Simon Moyse at the Treasury Press Office on 020 7270 4420.
Internal links
The Sandler Review is available below in Adobe Acrobat Portable Document Format (PDF). If you do not have Adobe Acrobat installed on your computer you can download the software free of charge from the Adobe website.
For alternative ways to read PDF documents and further information on website accessibility visit the HM Treasury accessibility page.
Media links
