Legal & General insurance aims to help government

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Legal & General insurance aims to help government

The government could benefit from help from Legal & General insurance in the future, says the chief executive of the group Tim Breedon.

He spoke at a Think Tank Reform conference alongside minster for pensions Steve Webb and director of public affairs at Age UK Andrew Harrop.

Mr Breedon stressed that Legal & General insurance "wants to help" and intends to cooperate with the government in the near future.

The finance expert explained that there are overlaps between what the Department of Work and Pensions does and what his firm deals with.

"Social Security provision is itself a form of state insurance, with premiums paid through tax rather than to a company like Legal & General," noted Mr Breedon.

Last month, director of housing at the firm Stephen Smith highlighted how many economics commentators are debating the inevitability of the base rate rising some time soon, with concerns still apparent regarding inflation.

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