The Government though Harriet Harman MP today have announced that they will prevent Sir Fred from receiving his massive pension payout. This strikes me as a bit late. Harriet Harman said that:
"It might be enforceable in a Court of law, but it is not enforceable in public opinion."
That may be right, but Labour incompetently failed to act when they could. It is inconceivable that lawyers were not consulted when the initial agreement was made. If they weren't, it seems negligent not to have checked whether something was contractual or discretionary.
It is Gordon Brown's friend, Lord Myners, that had that conversation, and it is Labour that should be held accountable. If they had acted sensibly and pragmatically at the time, then it would in all likelihood not be enforceable in a Court of law.
This is yet another example of Labour acting irresponsibly and exacerbating this financial crisis.
UPDATE 2/3/2009 3.20pm:
I have now managed to get the quote that worried me even more:
"The Prime Minsiter has said it is not acceptable and therefore it will not be accepted." What a horrifying thought and seems to conflate public opinion and Gordon Brown's pronouncement. It is not wrong because Gordon Brown says it is wrong, but becuase it is a reward for failure, and could and should have been stopped.