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.
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Absurb headline and hyberbole. Yes.
So PwC reveal that the UK’s defined benefit pension scheme deficit increased by £60bn to £260bn and a newspaper which is completely committed to pro free-market neoliberalsim presents Labour’s solution to this problem, a realignment of shares in the affected (7,000 or so) companies as ‘confiscation’ and imply decent impropriety.
The centrists (not just the FT) are very shocked and horrified that Labour is considering a reasonable and moderate solution to this serious and worrying difficulty and their disbelief discredits them.
No wonder the ‘unpolitical’ establishment is panicking and in fear – this ‘solution’ seems so uncontentious to many electors amd actually differenciates Corbyn’s Labour from its opponents and precursors, perhaps making their imminent electoral victory less surprisinf, not more.
Panic-mode does not suit the FT. As you say: “The FT needs to be a little more considered on occasion”.
Must be a general election in the offing – time to slagg Labour for anything and everything.
Strangely with all the amazing billions being promised for assorted public services I have not heard a single interviewer ask where the money is coming from. Imagine if these were labour spending plans.
[…] are also, of course, being shown. The FT has most certainly come off the fence. Having published one article lacking almost any hint of objectivity about Labour’s plans yesterday it has published another […]
How long do you think before the Tory party nicks the idea and puts it in it manifesto?!!
Not long….
“How long do you think before the Tory party nicks the idea and puts it in it manifesto?!!”
Herein lies the CorbynProject’s genious. Even the Conservatives will not copy something that is anathema to their self-interest (i, increasing asset values, and ii, decreasing labour costs) and therefore harms them.
Or will they?
The implosion of ideological free-market toryism is, let’s be honest, not something we’ve seen before or properly understand.
To many people Jeremy Corbyn is both a strong leader and a powerful strategist. Those who cannot see Corbyn’s leadership and strategy do not stop them working. Poker (if not so futile and valueless) was made for him.