The pension funds of millions of working Scots were on the verge of being wiped out by Kwasi Kwarteng and Liz Truss’s uncosted tax cuts for the rich, it has been reported.
The massive scale of the financial crisis that forced the Bank of England to intervene in the money markets to shore up UK pensions schemes became apparent on Wednesday.
Respected Sky News economics editor Ed Conway said he had been told pension funds were on the imminent brink of insolvency, which pushed the Bank of England to act.
