Jeremy Corbyn’s nationalisation plans will hit the pensions of 300,000 Brits who worked in the coal and steel industries
LABOUR’S nationalisation plans will clobber 300,000 former workers from the coal and steel industries.
The pension pots of mineworkers, staff at British Coal and British Steel include investments in the energy, water and PFI sectors targeted by Jeremy Corbyn.
Both he and Shadow Chancellor John McDonnell have repeatedly warned shareholders will not be fully compensated.
Analysis shows retired workers from Labour-dominated councils ranging from Greater Manchester to Brent in North London would also suffer.
James Morris, Tory vice chair, said: “From manufacturing workers to Labour’s own staff, everyone would be hit.”
The Sun Says
LABOUR’S limitless self-harm continues.
Taxing children for parental gifts is a sucker punch for young middle-class urban Remainers — rapidly becoming Labour’s core vote — who rely on mum and dad to help them buy or rent.
And the working class face punishment too. The pensions of 300,000 ex-miners, British Coal and British Steel workers will be trashed by Labour’s cut-price nationalisation of the private utilities they’re invested in.
Labour detests the rich. But their politics of envy now alienate all classes.
Oh, and Leavers. And Remainers.
No wonder they’re nose-diving in the polls.
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A senior business leader told The Sun: “Making your own supporters worse off seems a very odd way to convince people of your economic credibility.”
A spokesman for Mr McDonnell branded the claims “scaremongering”.
He insisted: “Where pensions are invested in these rip-off privateers, shareholders will be compensated with secure government bonds.”
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