BHS 'could file for administration' threatening 11,000 jobs on Monday

CLAPTON

Generali wrote: »

To be fair, it is one of those invitations that leads to you going to gaol if you don't take them up on it.

Anyway, this is all a drop in the ocean compared to the £4,700,000,000,000 in unfunded pension liabilities the Government had in 2012.

http://www.if.org.uk/archives/2031/ons-reveals-full-uk-pension-liabilities

but the 4,700,000,000,000 is going ot be paid from the
47,000,000,000,000 income so shouldn't be problem

stator

Gov deficits aren't as seirous as there will always be plenty of young people to tax to pay for the old unfunded pensions.

Generali

stator wrote: »

Gov deficits aren't as seirous as there will always be plenty of young people to tax to pay for the old unfunded pensions.

Only if the immigration roundabout keeps turning. Britons have kids at below replacement rate.

CLAPTON

stator wrote: »

Gov deficits aren't as seirous as there will always be plenty of young people to tax to pay for the old unfunded pensions.

virtually all goods and services consumed are essentially those produced by the people who are working.

OK Thatcher did suggest that people stockpiles tinned food for their old but most of us thought that ridiculous.

antrobus

Generali wrote: »

Does that make any difference to the law? ....

Yes. I'd have thought it was a matter of legal jurisdiction.

Generali wrote: »

...The reality is if she refused to turn up I couldn't imagine her being dragged to the UK in chains to face Parliament but she probably wouldn't want to visit the country until after the next election.

The reality is that no one is really certain as to whether or not Parliament can do that sort of things these days. Mike Ashley, the Sports Direct chap who still wants to buy BHS, has so far refused on at least two occasions to appear before a select committee and nothing has happened. Apparently, the Business, Innovation and Skills committee has issued a 'formal' request for him to appear before them on the 7th June. No idea as to whether or not he intends turning up.

antrobus

stator wrote: »

Gov deficits aren't as seirous as there will always be plenty of young people to tax to pay for the old unfunded pensions.

Greece.

Governments are just as capable of running out of money as everybody else.

CLAPTON

antrobus wrote: »

Greece.

Governments are just as capable of running out of money as everybody else.

they only run out of money by simple bad accounting unless they are made enough to join a currency union

production of goods and services are the important things

vivatifosi

In case anyone is interested... on the broader pensions issue, the Telegraph a while back did an article about the world's largest pension funds. The UK only has one in the top 50 (BT) but several in the top 300 and the biggest schemes are listed. See here:

http://www.telegraph.co.uk/finance/personalfinance/pensions/11854493/Global-list-of-biggest-pensions-exposes-Britains-flawed-retirement-plan.html

kabayiri

Generali wrote: »

Only if the immigration roundabout keeps turning. Britons have kids at below replacement rate.

Nobody wants to address the thorny issue of what these tens of millions of young people will actually do.

BHS youngsters/descendents might want to give retail the swerve.

Generali

vivatifosi wrote: »

In case anyone is interested... on the broader pensions issue, the Telegraph a while back did an article about the world's largest pension funds. The UK only has one in the top 50 (BT) but several in the top 300 and the biggest schemes are listed. See here:

http://www.telegraph.co.uk/finance/personalfinance/pensions/11854493/Global-list-of-biggest-pensions-exposes-Britains-flawed-retirement-plan.html

I'm surprised that CALPERS only comes in at number 6 quite frankly. I've done substantial amounts of business with 6 of the top 10.

The total Aussie super system is AU$4.2tn. IIRC it's the third biggest pension pot in the world.