Poison pill

The private pension savings of those caught in the secret privatisation of the Thatcher Government are an inhibitor to non-market price compensation for nationalisations. i.e. nationalisation without compensation. One of Thatcher’s early ‘reforms’ was the re-architecting of the pensions industry and its regulation. She abolished SERPS and introduced contracting out, which created the funds for private money purchase schemes. A threat to nationalise without or with below market compensation means that all the personal money purchase pensions would be reduced in value. You could argue that it’s only fair since QE has artificially inflated these funds but it will create a lot of opposition once the financiers realise how to convert it into votes. It’s a Thatcher designed poison pill for socialism. All the bollocks about swapping rights for shares is a distraction.

Poison pill

Leave a Reply

Your email address will not be published. Required fields are marked *