Terry Smith criticises Clegg's 'brain dead' pension idea

Smith, founder of Fundsmith, said the deputy prime minister had "apparently come up with a brilliant idea" to allow parents and grandparents to use part of their lump sum from their pension entitlement to pay the deposit on their children's property purchases. "The ‘idea' of people who mostly already have inadequate pension provision using part of it to give their children a stake in what are almost certainly still over-priced houses in the UK beggars belief," Smith said. "It is yet another example of the obsession which UK politicians have with house prices. "They seem not to have...