And seventh, they might point out that these index linked bonds were issued to help the pension industry that predominantly serves the interests of the wealthiest 10% of the UK so if any cuts are now called for as a result these will be to punish the poorest to help the richest.
And eighth, they should say ‘never again’ should we set out to help the richest at potential cost to the poorest, because that’s the real scandal in what is going on right now. As state services collapse what is being protected are the savings of the best off.
Government bonds are the government providing savings opportunities to those who desire to save with the government. That’s the argument in favour of government issuing more bonds.
Isn’t it? Or is today Tuesday?