L&G offers to help boost UK growth

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The Independent Online

Legal & General offered the Government a helping hand yesterday as it posted record first-quarter sales and

assets under management.

The company said it planned to use its own capital to invest directly in infrastructure projects and social housing. By doing so, it hopes to take some of the burden off the state to boost economic growth. Nigel Wilson, its chief executive, said the company is pursuing "several growth options through direct investments".

L&G's first-quarter sales rose by 28 per cent to £555m while the company's assets reached £441bn.