Why UK final-salary pensions may now be unpayable without state support
- Written by Giuseppe Corvino, Professor of Financial Markets and Institutions, Bocconi University
When long-dated UK government bonds fell sharply following the consistent criticism of the new economic measures laid out by the UK government, it forced the Bank of England to intervene to prevent an “unwarranted tightening of financing conditions and a reduction of the flow of credit to the real economy”.
On September 28, the Bank...
