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Sunday 12 October 2008

"I am angry at irresponsible behaviour. Where there is excessive and irresponsible risk-taking at has got to be punished."

"I am angry at irresponsible behaviour. Where there is excessive and irresponsible risk-taking at has got to be punished."
So said Gordon Brown in The Times; he is absolutely right but the person who has taken the most excessive risks over the last 11 years is Gordon Brown. Gordon Brown took a punt on the price of gold and lost £ billions by pre-announcing the sale and so forcing the price down and all at a time when gold was at historically low levels. Now as gold increases in price almost daily, have we had an apology? Of course not, Gordon Brown, in his own mind is always right. What about the reckless abstraction of £5 billion a year from the UK's pensions pot. How was that anything other than reckless and irresponsible? I remember hearing a radio piece on pensions funding just before the 1997 election and feeling relief that the UK had such well-funded pensions and fear that the EU wanted access to these funds to shore up their own under-funded pensions. What an achievement for Gordon Brown to lay UK pensions so low in 11 years.

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