He attacks Policy Exchange in the following terms:
The City is described as a force for good.
It is said that mechanisms used to force down wages, reduce worker security, strip tax from the UK and increase the wealth divide such as “private equity, venture capital and investment funds are of particular relevance in today’s context of capital shortage and the need for a more innovation-based economy”.
All in all its a perfect example of a left wing sell out and might suggest exactly why the Labour front bench has risen to almost none of the challenges that their Treasury team should have faced, leaving them trailing in the wake of the Tories with policies that are a pale imitation of what Osborne is proposing.
But it’s Ritchie himself who insists that 25% of all pension savings must be invested in new business operations. Which is exactly the province of that private equity, venture capital and investment funds.
It really is all a bit strange.