Earmarked is such a lovely word, isn’t it?

Pension funds should be encouraged to invest in purposeful companies; up to £100bn could be earmarked.

Whose money is that and earmarked by whom?

And when do we get to see the administrator’s report into the Work Foundation?

17 thoughts on “Earmarked is such a lovely word, isn’t it?”

  1. Sounds better than “stolen” or “confiscated”. Hutton doesn’t care so long as it isn’t his.

    Also in the little photo with the article someone seems to have “earmarked” his hair. Must be all the worry about the Work Foundation.

  2. On the one hand, people of his ilk cannot see a pile of money without wanting a share (or all) of it for their own agenda.

    O|n the other hand, that same pile of money in the hands of a company under pressure isn’t safe either. Why not have our pension funds held individually in our own names?

    Is Hutton ever right? Correct, that is, not the other.

  3. He also recommends “consolidating pensions”. Pension consolidation is the complete opposite of pension safety. It would have been wonderful if he’d consolidated his pension into Carillion holdings, wouldn’t it?

  4. Switch on the light, catch the bus, post a letter, turn on the oven, drink a glass of water, register for an apprenticeship, use a train, park the car or eat the food in the hospital canteen – it’s all provided by private companies.

    Unlike the 70s when the nationalised industries served us so well. One private company fails and the world is ending.

  5. ‘Day-to-day life now depends on private companies with private ambitions.’

    As it has for hundreds of years. The decadent fascists regulating private companies are meddling with their own survival.

    Brexit is Brits recoiling from foreigners meddling with Brits own survival – a rejection of decadence.

  6. Day-to-day life now depends on private companies with private ambitions.

    Yes, it’s so terrifying that the nation’s entire food requirements are met by “private companies”, especially the huge supermarket chains… Surely it would be far better for all provisioning to be administered by the “National Food Service” so we can all stand in interminable queues to pay for our state-mandated calorie rations. (/sarc)

  7. @ Pogo

    Public Health England would cream themselves if they could allocated our daily food ‘rations’ (400-600-600 and no alcohol) via the National Food Service.

  8. Further to “Whose money is that and earmarked by whom?” add, “Under threat of what punishment” for using one’s assets in a way that someone thinks is not “purposeful”?

  9. This is all a bit Henry VIII. Pension funds are the new monasteries. All that lucre sitting around not available for the govt to spend.

  10. Bill Clinton publicly mused about all the money in pension funds that could be invested in socially desired enterprises. Politicians cannot eye a pot of cash without convincing themselves that it is really theirs “in a just world.”. Such notions, fortunately, often come to naught when the pensions’ demands on that pot are understood.

  11. There is a very, very long list of things I wouldn’t trust Hutton with, and pension funds are number one on that list.

  12. “All that lucre sitting around not available for the govt to spend.”

    But it’s not?

    I know it’s not what you meant, but it’s not “sitting around”. One way or another, ultimately it’s all invested or lent productively within the global economy, exactly the same as anyone’s day to day bank current or deposit account balance is.

    And like pretty much everything on this planet, as soon as any government gets its hands on it, then – relative to what that money was doing – it’ll just get devalued or otherwise wasted.

  13. Tommydog – Most politicians do not lust after pension funds, because most pensioners know what’s happening in their funds, and virtually all of them vote.

    Most American politicians now lust after insurance companies. By mandating benefits, they can fritter away freebies, paid for by strangers out of insurers’ capital, and don’t have to personally raise anyone’s taxes or steal their money. This is why even the Republicans’ mantra is the meaningless “repeal and replace.”

  14. @ Rhoda Klapp
    Rarely! He has just airbrushed Clem Attlee out of history in an article for the Grauniad.
    I have posted a comment but I’m willing to bet that it will be “pre-moderated” out of existence since the failure of the Grauniad editors to spot that is too embarassing to confess.

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