Osborne to take hypothecated pension funds

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A topic from News & Current Affairs: Political

laresWed 11/01/12 23:51

"Chancellor George Osborne will access the £140bn held in 80 local authority pension funds to pay for infrastructure projects.
The news comes after Osborne announced his intention to use pension money to build new roads, homes and bridges, the Times reports.

Local government representatives will meet the Chancellor this week to discuss the plan. Public sector unions, which are negotiating with the government over pension reform, condemned the plan as "risky"."

http://1sq.me/AzQNmI

Is this more part of the ConDems policy of localism or more part of their policy of "not borrowing"?

No wonder the public sector unions don't feel they can trust anything this government comes up with.

dazbarThu 12/01/12 01:21

So there's £140Billion held in Pension Funds, we've had strikes because the workers want to carry on the same, but the government have said there's no more money, and yet they are going to "borrow" it to build more roads, homes and bridges

What happens if it all goes tits up?

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