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  Marek.
  
  If you dont care about the impact on the broader economy (you should!) Perhaps you should consider this when you refer to 'greedy shareholders'.
  
  By coincidence I have been looking at the circumstance of a lady. I will not say anything that give away her i.d. for obvious reasons and fortunately she does not live in Dover (or Kent in fact...)
  
  She has a State pension of a little over £90 per week. She has some interest from accounts providing a little under £10 per week.
  
  She and her (deceased) husband scrinmped and saved all their life and she has some Unit Trusts and Share ISAs that provide a total income of about £60 per week.
  
  A fair proportion of those Unit Trusts are invested into UK Equity Income Funds for two reasons, they are of lower risk than many other types of UK and international equity funds and they provide a reasonable income stream with the potential for capital and income growth over the long term to offset the effects of inflation.
  
  The underlying investments of these equity income funds include a significant amount in utilities. I have previously explained why utilities are good for this type of fund.
  
  How would you explain to her what you have said about no compensation to utility shareholders?
  How would you tell her how greedy she has been?
  How can you justify the State theft of a large proportion of her savings?
  
  What you would propose would result in her becoming dependant on increased State benefits, subject to the Minimum Pension Guarantee, when her savings fall enough in value, which they would quite quickly.
  
  Imagine the impact on her capital and income, it would be destroyed by what you easily propose. Your comments and dismissal of people who are investing into utilities is so insulting towards ordinary decent hard working people.
  
  Make no mistake there are many, many people like her.
  
  I have not even tried to describe the wider implications for the economy, long term and short term that would be more broadly devastating.
  
  I have to say that the attitudes that have come accross in this thread remind me why I so detest socialism so much and its assumption of State power. For me this discussion is not about theory, it is about very real people and is a subject of which I have direct expertise and is nothing to do with political point scoring or making challengable claims. This is real life.

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