The FT’s claim of a ‘Labour swipe of £300 billion’ only just covers pension deficits owing to workers

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The FT has just published this quite absurd headline and story:

I am quite sure this is largely hyperbole. And I do have reservations about the Labour plan. But before anyone gets carried away, earlier this year it was reported that the deficit on defined benefit pension funds of roughly the same group of companies might be £260 billion. That, I suggest, is the real swipe that's going on.

The FT needs to be a little more considered on occasion. This is one of them.