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exiges

Govt Climb Down On Public Service Pensions

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Just heard on the radio, the government's plan to limit public sector pensions at the next budget has now been kicked into the long grass after threats of strikes.

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Presumably he is going all out to cause a state collapse, as those pensions obligations are unpayable.

And why arent the Unions begging for cuts to pension provisions, after all, they would be better off getting something rather than the zip they will get after the state defaults.

There is so much I dont understand.

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Presumably he is going all out to cause a state collapse, as those pensions obligations are unpayable.

And why arent the Unions begging for cuts to pension provisions, after all, they would be better off getting something rather than the zip they will get after the state defaults.

There is so much I dont understand.

Their pensions are index-linked, so relatively printy printy proof?

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There is more actual borrowing printing ahead.

QE wasn't printing.

But selling the bonds bought back into the market and spending the money thus raised would be.

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Their pensions are index-linked, so relatively printy printy proof?

Just because an obligation is index-linked, doesnt mean that it is payable.

Too much has been promised to too many to be paid by too few. There will be a default sooner rather than later.

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Perhaps the govt is waiting for the Olympics to pass, then do it ?

I could see the militant transport workers bringing the country to its knees while the world is watching otherwise.

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Perhaps the govt is waiting for the Olympics to pass, then do it ?

I could see the militant transport workers bringing the country to its knees while the world is watching otherwise.

I think that would be the best time to dare them to go on strike. They would never live it down if they wrecked the Olympics, just to ensure that the downtrodden private sector workers are overtaxed in a vain attempt to keep the public sector pensioner's bank balance flush with cash.

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Looks like the tissues are on hold for you lot eh? :D

Does it matter? They'll just let the pot run dry and be done with it. That or make the payouts not worth the paper they're printed on.

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Article:

'Today's meeting showed a clear determination for unions to work together on industrial issues including, as a last resort, industrial action when members support it.

''The TUC will step up its work co-ordinating the industrial work of unions. There will be monthly meetings of all the TUC's public sector unions in the Public Services Liaison Group, and the TUC's General Council will consider at each of its meetings a report of what is happening across the whole economy.''

Mr Barber revealed that, following talks with Chancellor George Osborne, the Government had agreed to hold talks on the future of public service pensions, saying ministers had now accepted that they will not force through changes in the March Budget.

http://www.telegraph.co.uk/news/newstopics/politics/8288685/Unions-co-ordinating-plans-for-action-over-volatile-cocktail-of-cuts.html

Edited by exiges

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  • 311 Brexit, House prices and Summer 2020

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      • down 5% +
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