IF the Bank of England (BoE) had not staged an emergency intervention to stop a full-blown financial crisis then there would have been a complete collapse of pension funds today, Sky News reports.
The central bank's actions reportedly staved off "mass insolvencies" of pension pots in yet another consequence of the Chancellor's tax slashing mini-budget announced on Friday.
Kwasi Kwarteng's plans to cut the higher rate of tax, scrap the incoming hike to corporation tax and lift the lid on banker's bonuses already caused the pound to collapse and forced the International Monetary Fund (IMF) to release a "concerning" warning.
