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This weekend, Observer economics editor @phillipinman wrote an article on the #USS dispute, which enraged many within @UCU due to the inaccuracies it contained and the inflamatory conclusion.
What was wrong with it? Here are the errors I found. 1/
theguardian.com/business/2019/…
What was wrong with it? Here are the errors I found. 1/
theguardian.com/business/2019/…
1. A deficit of over £20bn on liabilities of £87bn.
I don't recognise either of these numbers, though it's unclear on which basis the liabilities are supposed to be valued. Self-sufficiency? PPF? Not clear. Perhaps Phillip isn't sure either. 2/
I don't recognise either of these numbers, though it's unclear on which basis the liabilities are supposed to be valued. Self-sufficiency? PPF? Not clear. Perhaps Phillip isn't sure either. 2/
2. The strike is to prevent the scheme's trustees from hiking contribution rates.
This is not true. We're asking employers to pay the increased costs arising from the 2018 valuation, whch rejected the Joint Expert Panel's recommendations. 3/
This is not true. We're asking employers to pay the increased costs arising from the 2018 valuation, whch rejected the Joint Expert Panel's recommendations. 3/
