Difference between revisions of "Legal and General"
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Legal and General have made financial donations to the privatley run [[University of Buckingham]]<ref>University of Buckingham, [http://www.buckingham.ac.uk/facts/official/accounts/accounts-2006.pdf Financial statements for the year ended 31st December 2006], ''University of Buckingham'', Accessed 05-September-2010</ref>. | Legal and General have made financial donations to the privatley run [[University of Buckingham]]<ref>University of Buckingham, [http://www.buckingham.ac.uk/facts/official/accounts/accounts-2006.pdf Financial statements for the year ended 31st December 2006], ''University of Buckingham'', Accessed 05-September-2010</ref>. | ||
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| + | According to [[Paul Foot]], following the [[Conservative Party]] election victory in 1983 a 'gang of tightly knit Thatcherites' who were closely linked to the [[University of Buckingham]], 'decided on a big push for private enterprise in the field of old age pensions'. Foot argues that the idea was developed and implemented by [[Tony Newton]] the then minister of state for social security, [[Norman Fowler]] and [[John Major]] by using the Social Security Act. Foot describes how this led to 'swarms of "agents" from companies like the [[Prudential]] and [[Legal and General]]' who: | ||
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| + | :scoured the country for suckers in occupational schemes who could be flogged a private scheme instead. At least a million people became victims. Almost all the schemes they were sold turned out to be worse than the schemes they left<ref>Paul Foot, Comment & Analysis: Swindle of the age, ''The Guardian'', 19-March-2002</ref>. | ||
==Notes== | ==Notes== | ||
<references/> | <references/> | ||
Revision as of 16:15, 6 September 2010
Legal and General is one of the UK's largest financial services companies[1].
University of Buckingham
Legal and General have made financial donations to the privatley run University of Buckingham[2].
According to Paul Foot, following the Conservative Party election victory in 1983 a 'gang of tightly knit Thatcherites' who were closely linked to the University of Buckingham, 'decided on a big push for private enterprise in the field of old age pensions'. Foot argues that the idea was developed and implemented by Tony Newton the then minister of state for social security, Norman Fowler and John Major by using the Social Security Act. Foot describes how this led to 'swarms of "agents" from companies like the Prudential and Legal and General' who:
- scoured the country for suckers in occupational schemes who could be flogged a private scheme instead. At least a million people became victims. Almost all the schemes they were sold turned out to be worse than the schemes they left[3].
Notes
- ↑ Legal and General, About Us, Legal and General, Accessed 05-September-2010
- ↑ University of Buckingham, Financial statements for the year ended 31st December 2006, University of Buckingham, Accessed 05-September-2010
- ↑ Paul Foot, Comment & Analysis: Swindle of the age, The Guardian, 19-March-2002
