“Cable clearly does not know basic facts when it comes to public sector pension schemes. They have recently gone through comprehensive reviews to ensure they are sustainable and affordable, and Lib Dem calls for cuts will come back to bite them.
"In 2008 the total value of combined assets in England, Wales, Scotland and Northern Ireland were £143 billion - 60% of which was invested in equities or shares, in UK and global stock markets.
"In the same year, more than £1 billion was invested in each of the top four FTSE companies. If the scheme was to close, and this investment was withdrawn, it would have a huge impact on the UK economy, knocking investments, hitting the private sector.”
http://www.unison.org.uk/asppresspack/pressrelease_view.asp?id=1841
