Robert Maxwell is Alive

I am rather at a low ebb right now but I couldn't let this one go by.

The next bit of madness is the proposal that the ailing Private Finance Initiative plunders the pension funds of local government employees.

The Times has it.

PFI, the official propaganda states, "provides a way of funding major capital investments, without immediate recourse to the public purse".

That, of course, is a lie. It is merely a way of keeping the massive public debt commitment to PFI off the balance sheet. The word to watch is "immediate". Long after the gerry built hospitals and schools fall down we will be still servicing the debts on the public share of of the finance. These schemes extend way into the future. Many have simply stalled when the private interests have taken our money and run.
The cost of servicing the debts (not paying them off) on hospital PFI schemes in one year is £500 million.

So the next plan is to steal from pension funds to shore this obscene scheme up. It is yet another example of Labour's scorched earth policy that will ensure that you and I are paying for their misdemeanours for the next few decades, and in this case, specifically, massive hikes in council tax.


Auntie Flo' said...

"I am at rather a low ebb right now"

Cheer up, Wrinkled Weasel,
happy birthday!

Faux Cu said...

BRown and The Treasury has already plundered the Public Sector pension funds and not a lot of people know that.

The Treasury is the "trustee" of the former British Steel and National Coal Bord pension funds.


When these two giants were privatised ther had just occurred the Robt Maxwell looting and the T Unions were worried that the new owners would do the same.

So, the pension funds were not transferred and were in fact taken into Government trust.

Enter Brown, ever desperate to plunder and tax in a cunning devious way.

HM Treasury declared dividends on the profit the pension funds were makin (paper wise anyway) siphoned off a whack and returned what they did not take back to the pot.

Now the pot has shrunk, is The Treasury returning to the pot their share of the profits they siphoned off?

Are they sweet F all.

I tried to alert the SNP to this at the time of Glenrothes but they never used it against Brown in the mining wards.

It will all come tumbling out eventually but I am still not sure that those who stuck by Labour at Glenrothes will realise, care or react.

Red balloons and Labour MPs

cf David Marshall

Apogee said...

Are we now unable to take any action against this legalised thieving scum.
Sure we can (hopefully) throw them out at the next election, but they will walk into another high paid job,while the people they impoverished by stealing their pension funds have no redress.What kind of a country allows this to happen !