, 8 tweets, 3 min read
The establishment media are going mad about the Labour’s #freebroadband plan saying it will hurt people’s pension plans. Yet they provide no evidence for this.
In this Thread, I provide EVIDENCE that Labour’s plan will save money for people with cash pension pots..
1/7
The valuation of BT at the start of November was £20.09 billion
The most recent valuation of the FTSE 100 I could get is Jan 2018, which is £2.054 trillion
BT therefore represents about 1% of the FTSE 100
(NB this is generous as BT’s share price is now lower than Jan 18)
2/7
The default fund choice in most cash pension plans splits investments between the UK and global funds. Most typically 60% UK / 40% global.
BT would therefore represent 0.6% of someone’s cash pension fund.
3/7
If someone had accumulated a value of £100,000 of their pension cash pot, 0.6% of that would be £600.
Assume a worst case, a Labour government offers a 20% discount on BT’s whole share price (ie not just Openreach but everything) a 20% loss on £600 would be £120
4/7
On Compare the Market, the lowest price quoted today for a fibre broadband with a speed of 30mps is £21.95 a month, £263 a year.
So in year 1 after nationalisation someone would be £143 better off, if they have a £100k pension pot, by more if their pot is smaller.
5/7
In years 2 and after they would save £263 a year
Over 5 years the saving would be £1,195

This calculation took me a minutes of searching and simple maths. There is just one of me. The BBC and Sky employ hundreds in their news teams, and no one could do this?
#brokenmedia
6/7
References:
FTSE valuation en.wikipedia.org/wiki/FTSE_100_…
BT valuation: stockchallenge.co.uk/ftse.php
Pension fund split: cass.city.ac.uk/__data/assets/…
7/7
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