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Brown will not restore earnings link

Chancellor Gordon Brown has again resisted calls to link pensions to earning. Speaking at the CBI conference in Birmingham Brown stood firm on pension policy saying the Government will not respond to the long term savings and investments issues raised by Adair Turner until next year.

Brown said : “And today in 2004 I can tell you – as I told my own Political Party Conference – that I will resist demands from wherever they come, such as on linking pensions to earnings where this would put at risk the fiscal position today and in the long term. Such short-termism is not the best way forward.”

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