A Reason to be Grumpy
We now know why Gordon Brown was so tetchy and miserable-looking at Treasury questions on Thursday: he knew that the £5 billion pensions grab initiated in his first Budget was about to be put under the microscope. Every attempt to block the warnings being made public about this pensions grab from the then Treasury officials at the time finally failed. The impact has been devastating – so many people have lower pensions than they could have expected. Younger people starting their careers increasingly can no longer look forward to a comfortable retirement pension. In 1997 we had the most successful pension arrangements in Europe.
Poor Gordon. It isn’t going very well for him. Now Charles Clarke is apparently entering the leadership fray. He is a fearless character. The sparks will fly.