Fun fact: England is the only country in the world to have fully privatised its water and sewerage systems.
Via the Financial Times: "Scotland—which has its own state-owned water company—massively outperformed its neighbours with water standards similar to much of Scandinavia."
@Wen@MadeyeTheCarnaptious@alanferrier it is a private business owned by private investors and private shareholders, so its rescue has to come from the private sector, or let it go bankrupt.
And those poor helpless pension funds that have been extracting inflated dividends for years, without caring how they were obtained get a reality check on how capitalism actually works.
There can be no Nationalising the debts of companies that privatised their profits.
@JimmyB@Wen@MadeyeTheCarnaptious@alanferrier so reward pension funds for chasing profit without care for the people whose money they are playing with. The fund should be held liable
those innocent 'pensions' were invested with open eyes by the pension holders. you never hear them scream when their pension goes up from a fund doing well, but oh boy the screams from it going down.
Most people do not know what their pensions invest in, because they devolved investing it as easier. But pension funds must bear the risks as well as the rewards.
which is what successive UK govs have been elected to follow.
Me I am a socialist, I object to invested pensions on principle, I believe the state pension should be a fully living amount, that you can top up by choice and by your own risk with a private one.
This pension issue is not new and is a chasm that govs have been ignoring for years, look at the post office pension hole info.
as for dads. Mine was a farm herdsman who had to retire due to ill health at 60, the only reason he could was that by luck, his last job had been with the GLC and he got the superannuation pension. Otherwise he would have got the barest minimum and nothing from 30 years of other employers.