Part of 1. Questions to the First Minister – in the Senedd at 1:41 pm on 18 October 2022.
Thank you, Llywydd. This drastically impacted the finances of many pension funds and has ultimately led to the over-reliant use of LDIs by desperate pension schemes aiming to make up the shortfalls that they've continually suffered since then. In the frantic attempt to raise revenue, this financial legacy of the last UK Labour Government has seen pension funds seek riskier and riskier borrowing—[Interruption.]