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| and cursèd be the name of Gordon Brown |
Yes, both Tories and Lib Dems made manifesto pledges to that effect, and the Coalition Agreement duly carried it forward. Sadly, the compo is only at the rate of 22.4 pence in the pound (of loss suffered) - and the loss itself is calculated in a rather non-transparent way. But hey, let's not carp too much. All opprobrium is to be directed squarely at Gordon Brown, whose complete failure to regulate properly hangs around his neck forever, and whom I shall curse to my dying day.
I haven't seen any write-up of this payout in the press - just widespread recent ads for EL pensioners to get in touch with the compo scheme - but I have to believe I'm not the only one to be getting a welcome letter in the post. Given that compo cheques in respect of various banking sins are being credited with, inter alia, last year's record UK car sales figures, I'm guessing that many recipients will be rushing out and buying stuff, instead of *ahem* prudently topping up their pension arrangements.
So - yet another Keynsian boost to the economy ! And maybe a few extra votes, assuming Mr Crosby knows how to make a little hay out of this - which I think he does.
ND
