It’s always tricky commenting on big political announcements. Ambitions are usually grandiose, but practical details sketchy; ideas are half-formed; information tends to trickle down through carefully placed leaks; and the temptation to draw definitive conclusions from a partial picture is ever present.
So it’s with some trepidation – not to mention restraint – that we sifted through the latest round of rumours and leaks concerning UK Chancellor George Osborne’s ‘Pension Finance Initiative’ – the Treasury’s grand plan to get UK pensions to fund UK infrastructure to the tune of £20 billion (€24 billion; $32 billion).
