OH DEAR AND THE TELEGRAPH

Brown's pension grab secret is revealed

By Philip Aldrick and Edmund Conway
Last Updated: 11:26pm BST 31/03/2007

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# Read the Treasury documents into the impact on pension funds
# 'Time-bomb' warnings the Chancellor ignored
# The Act that forced publication

Gordon Brown was warned explicitly that he would cause the death of the final salary pension scheme and cost companies and individuals billions of pounds when he took the knife to the pension system in his first Budget.

Chancellor Gordon Brown visiting troops in Afghanistan yesterday
Chancellor Brown visiting troops in Afghanistan yesterday

Confidential documents sent to the Chancellor before he axed the dividend tax credit in 1997 also warned that the worst-hit victims would be the poorest members of society.

The internal Treasury forecasts, released last night under the Freedom of Information Act, state that the changes would "cause a shortfall in existing assets of up to £75 billion" and that "employers would have to contribute about an extra £10 billion a year for the next 10 to 15 years to get pension scheme funding back o March 2007

See this Link

http://www.telegraph.co.uk/news/main.jhtml?xml=/news/2007/03/31/nbrown31.xml