From R. C. DENING
May I add a thought to Michael Kenward’s discussion of short-termism
in British companies (Forum, 15 June). He points out that pension funds
own a lion’s share of the equity in British business. Anyone expecting to
be paid such a pension might well wonder how short-termism secures the long-term
safety of the pension. How does it make sense to invest for the long term
in enterprises which may become seriously uncompetitive for lack of R&D?
If I was not already a pensioner, I would certainly be asking for an
R&D audit on my pension fund’s investments!
R. C. Dening Selsey, West Sussex Science on BBC
