Danish pensions body counters political pressure to invest for growth

first_imgDanish pension funds have already invested DKK220bn (€29.5bn) in Danish business and are keen to help create more growth in the domestic economy, according to industry association Forsikring & Pension (F&P).But the risk of such investments has to match the return, it insisted. The association’s chairman Christian Salgild told F&P’s annual meeting: “All my warning lights start to flash when the political side proposes that pension funds invest in companies and sectors considered risky by banks and the FSA, while at the same time those businesses are making big investments in production and jobs abroad.”However, his main message should not be misunderstood, he said. He said the pensions and insurance industry already contributed very significantly to investment and growth in Denmark and wanted to step up efforts, as long as the return matched the risk.New figures from F&P show the pension funds have DKK220bn invested in Danish business.Of this, DKK125bn was in property, DKK85bn in shares, corporate bonds and loans, and DKK10bn in infrastructure, wind energy and public-private partnerships (PPPs), according to the association’s data, covering 85% of the pensions market. “I understand politicians’ desire for more pensions money to go into Danish companies,” said Salgild. But politicians also have to understand the world in which pension funds operate, he said.“We are obliged – legally, too – to safeguard pension savers’ interests first and foremost,” he said.Sagild said the problem facing investment and growth in Denmark was not that Danish companies were caught in a credit crunch.The main problem was rather that the Danish economy was growing too slowly and that Denmark was not nearly as attractive an investment location as other countries.“In a globalised world, it is first and foremost the cost level that determines where companies place their production,” he said.“And this, therefore, also determines which countries and regions will experience growth and increased employment.”last_img read more

Agencies doubt abuse figures

first_imgNZ Herald 6 March 2015The number of child abuse complaints referred to Child Youth and Family in Tauranga is falling, but agencies in the area are debating the new figures.Information released by the Ministry of Social Development to the Bay of Plenty Times under the Official Information Act shows 444 children up to the age of 14 suffered emotional abuse, 172 suffered neglect, 149 suffered physical abuse and 29 were sexually abused in the 2013/2014 financial year.The figures showed the number of critical cases fell during a five-year period.In the 2009/2010 financial year 226 cases were assessed as critical while in the 2013/14 financial year the number was 181.A critical rating is applied when a child or young person is identified as having been severely abused or neglected.Bernadine Mackenzie, deputy chief executive of Child, Youth and Family, said when a concern was expressed to CYF a child or young person may be at risk of abuse or neglect, a notification was recorded.http://www.nzherald.co.nz/bay-of-plenty-times/news/article.cfm?c_id=1503343&objectid=11412873last_img read more

What Labour will worry about with a euthanasia referendum

first_imgStuff co.nz 21 October 2019|Family First Comment: “Conservative lobby groups such as Family First already have plenty to do campaigning against abortion law reform and the cannabis referendum pinned to go with the 2020 election. Add in a referendum on euthanasia and there would be quite a cocktail of policies to campaign and fundraise with. The Government would be coming for your babies, your grandma, and to give your kids legal weed.” That’s a great slogan!! Thanks guys ANALYSIS: The prime minister has said several times that she doesn’t think there should be a referendum on euthanasia.But she could well vote for one on Wednesday. Here’s why.Jacinda Ardern has supported the End of Life Choice Bill every step of the way, and voted with bill sponsor David Seymour on all of his varied amendments thus far – all of which are aimed at getting it to pass.Now, with the referendum vote looming – under which the law would be dependent on the public endorsing it – Ardern has left open the option of voting for a referendum which she has previously be wary of, if that’s what is needed for the bill to pass.Ardern is of course only one vote of 120. Because euthanasia is a conscience matter for Labour and National, the leaders’ votes technically don’t count any more than the lowliest of backbenchers’.But her vote will likely be influential on other MPs on the fence, which could be crucial. It’s much easier to make a hard decision when you know your leader has made the exact same call. Several other Labour MPs could go all the way from yes to no without much trouble.Seymour desperately needs to pass the referendum amendment on Wednesday to pass the bill itself in a few weeks’ time. This is because of a deal he made with NZ First early in the process: if he got a referendum included, all nine NZ First MPs would stay onboard through all three readings.If the referendum amendment fails, it’s not clear that every NZ First MP would vote against the bill (opinions clearly differ within the party), but most would.READ MORE: https://www.stuff.co.nz/national/politics/116752897/what-labour-will-worry-about-with-a-euthanasia-referendum?cid=app-iPhonelast_img read more