L&G boss Nigel Wilson today urged policymakers to get “cracking on with fracking” to boost growth and lower energy bills across the UK.
The insurer has been in talks with the Coalition about using more of its money to invest in infrastructure but believes too much time is spent talking about high speed rail lines and airports in the Thames Estuary.
He said: “It seems to have fallen off the agenda but the north of England needs fracking more than HS2 and so does the rest of the country as it will keep energy prices down. We need to see much less uncertainty around policy to make the UK more attractive to investors.”
L&G beat City expectations in the first nine months after generating £740 million of cash and attracting net inflows of £10.9 billion.
The company also claimed any cap on the management fees charged by pension providers should be lower than the figures currently being proposed by the Government.
