Continuing the tradition of stripping money from the state sector, the Conservative government is facing mounting resistance from the British public who have not bought in to the narrative that public sector pensions need 'reforming' (code word for 'defunding'). Reports the Guardian:
One of the government's key arguments for reforming public sector pensions crumbled when it was made clear that they are projected to become more affordable in the future, not less, as teachers staged the biggest school strikes since the 1980s over the plans.
The forecast that the cost of paying pensions to 6 million public sector workers will fall by £67bn over the next 50 years undermined David Cameron's claim earlier this week that the system could "go broke" if it is not reformed.
More than 2 million pupils missed classes as a group of four breakaway unions staged the first mass strikes against the coalition's austerity plans.
The problem with the Tory Government's economic projections is that by and large, they don't add up. Every serious economist has rejected the severe austerity measures being passed, and the news that their pensions projections are way off should come as no surprise.
The reality is that the Conservative government is forcing the public sector to pay the brunt of the damages caused by the financial industry. They have concocted a series of false storylines backed by complicated sounding numbers that makes it appear government spending is the problem behind Britain's economic woes. It isn't - and government spending is the only way out of the current mess. The more David Cameron attempts to punish the public for the crimes of the financial sector, the more resistance his government will face. Despite the concerted effort to trick them, the British public is not stupid, and the Tories are finding out the hard way.