ºâ̳¾Ê »Ï¤á¤ë¡¤·è¤á¤ë for mis-selling windfall

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²ñ¼Ò¡¿·ø¤¤s that mis-sold »äŪ¤Ê ǯ¶âs could see their Êä½þ¡Ê¶â¡Ë »Ùʧ¤¤¡Ê³Û¡Ës to the À¯ÉÜ ¥³¡¼¥¹¤òÊѤ¨¤ëd into building schools and hospitals, ÀìÌç²Ès have ͽÊ󤹤ëd.

The ºâ̳¾Ê will receive a slice of the total Êä½þ¡Ê¶â¡Ë Ë¡°Æ of more than ¡ ò20 billion that Êݸ± companies and other ǯ¶â providers are having to return.

Public-ÉôÌç ϫƯ¼Ôs, ´Þ¤àing teachers and nurses, have their ǯ¶âs ľÀÜ¡¿¤Þ¤Ã¤¹¤°¤Ë paid by the taxpayer, so the Êä½þ¡Ê¶â¡Ë goes straight into ºâ̳¾Ê coffers. Some ¸«Àѡʤë¡Ës ¼¨º¶¤¹¤ë that the first Ãʳ¬ of Êä½þ¡Ê¶â¡Ë is ¸½ºß¡¿°ìÈÌ¤Ë bringing the ºâ̳¾Ê a one-off ¿­¤Ó¡Ê¤ë¡Ë of ¡ò1 billion.

The money counts as a »ñËÜ¡¿¼óÅÔ Îμý½ñ, not a ¸½ºß¤Î Îμý½ñ, so it cannot be used to ´ð¶â ¸½ºß¤Î spending. However, the À¯ÉÜ is committed to a ¡ò40 billion spending programme to ²þÁ±¤¹¤ë Britain's health and education ÁÈ¿¥¡¿´ðÈס¿²¼Éô¹½Â¤. The ǯ¶âs Êä½þ¡Ê¶â¡Ë money could go ¤Ë¸þ¤«¤Ã¤Æ this »ö¶È¡¿·×²è¡Ê¤¹¤ë¡Ë.

Money ½ù¡¹¤Ë disappeared from the public purse at the time ǯ¶âs were ¸ºß mis-sold, because the public ÉôÌç ϫƯ¼Ôs stopped giving their ǯ¶âs ½Ð»ñ¡¿¹×¸¥s to the À¯ÉÜ and started giving it to »äŪ¤Ê ¶¡µë¼Ôs instead. That money is now returning to the public purse, all at once.

·ë¶É the ºâ̳¾Ê will have to »Ùʧ¤¦¡¿Ä¶â out to the public-ÉôÌç work-ers when they retire - part of the "ǯ¶âs timebomb" that is ÀêÎΤ¹¤ëing policymakers across the industrialised world.

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