Robert Peston's Blog; Royal Mail & HMG's creative accounting

[fmrPOSTIE]

http://www.bbc.co.uk/blogs/thereporters ... ive_a.html" onclick="window.open(this.href);return false;

Interesting article put in simple terms!!!

[k979aaa]

Post 47 by KendersD sums it up.

[norbert]

http://www.bbc.co.uk/blogs/thereporters ... ive_a.html

Interesting article put in simple terms!!!

Private Eye magazine did a similar article ( 29th May - 11th June No .1237 ) - it was described as a less than subtle con - trick . There will be directives from the European Commission about the ratios of Debt to Gross National Product , so McRuin + :mfo & co will be in hurry to get things off the books . Cameron is planning on public spending cuts too , with a eye on Europe in 2010 .

PFI is another " creative accountancy " trick , ironically Mussolini used it in fascist bankrupt Italy during WW2 .

The Govt " Defence " is that pensions will be paid out of tax revenues rather than a funded scheme at the mercy of the city / stockmarket .

The problem is that is that it's at odds with New Liebour's " great idea " , the NPSS ( National Pension Savings Scheme ) ; which from 2012 , private sector employees will be enrolled in ; putting their pensions at the mercy of the spivs & charlatans in the city .

It could cost millions of people a secure retirement but it has the all - important support of the city so Gordon Clown is hardly likely to scrap it . Expect a lot of sh** stirring against the PO in the media , Mrs White on shoutinginthe dark.co.uk has already started ! .