Chancellor is to do a Gordon Brown on the LGPS

Please exhort the Chancellor not to do a Gordon Brown to the Local Government Pension Scheme, when he decides on
the reforms to the Public Sector Pensions Schemes. My reasons? Well I
shall explain why they are a different case.

Basically we are in this financial mess because of the folly of the
last Labour Government. They inherited a healthy debt-free economy on
the rise. What did they do, squandered it like greedy schoolboys in a
sweet shop.

You’ll remember when Gordon Brown decided to raid the pension funds to
appease the voters with Tax cuts. Sacrilege.

You will be aware that investments like pension funds are long term
investments, you don’t make a fast buck from them they are deliberately
designed for long term growth because they look after their members
over the long term, we hope the very long term. Having crippled the
funds his next “achievement” was to lower taxes at a time the world
recession was looming. In fact he then scrapped the 10p tax-rate to rob
the poor to give to the rich! How people were deluded, but eventually
saw what the Emperor was wearing and now we have a sensible Government
that is not trying to Build an enormous public sector to service the
Bloated State Machine. People don’t want hand outs they need freedom of
choice.

Now we are in a poor state and the Pension Funds are weak because the
economy is down. If the Chancellor is prudent (sorry but GB used these
words but wasn’t literally, he deceived), the economy will recover and
the Pension Funds will recover. The Long Term, providing they aren’t
mortally wounded.

I do agree with reform of Public Sector Pensions but keep the LGPS
separate to the rest because it is a FUNDED scheme. Why should we have to pay even more to bail out the greedy bankers?