To ask the Minister for the Cabinet Office, with reference to the List of Ministerial responsibilities, what the definition is of commercial models.
22 January 2018
The Commercial Models Team (CMT) assists departments and other public sector organisations to deliver better services at lower cost and devise and implement commercial models for collaborating across the public sector and between the private and public sectors.
By way of example, they continue to work with the Department for Communities and Local Government and HM Treasury to transform the way the Local Government Pension Scheme invests its £260 billion of assets. The government has received proposals from Local Government Pension Scheme administering authorities in England and Wales to consolidate their assets into a small number of pools to take advantage of their scale. These pools are expected to deliver annual savings in investment costs of at least £200-300 million. We will also work with administering authorities to establish a new Local Government Pension Scheme infrastructure investment platform, in line with their proposals, in order to boost their capacity and capability to invest in infrastructure.