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Scale back pension commitments.
The figures ignore the future liabilities of unfunded pension commitments.
Future generations will no longer be saddled with oppressive pension commitments.
Should the UK's future liabilities include all future public pension commitments?
That will impose colossal financial burdens in a country already struggling to meet its pension commitments to the elderly.
There have to be cuts, the president could say, in unaffordable pension commitments, in biofuel subsidies and useless tax breaks.
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Another business is Reader's Digest, bought out of administration minus pension scheme commitments.
In the past few years, those who remain at the docks have walked out on strike again, most recently over attempts by a logistics company to force workers onto zero-hours contracts, which do not guarantee any work and enable employers to sidestep certain pension and benefit commitments.
Yet governments also stand behind their domestic pension funds.The commitment is explicit in the case of public-sector schemes.
12.08pm: Harriet Harman asks how much money has been set aside for the pension guarantee, the commitment to uprate pensions in line with inflation, earnings or by 2.5% - whichever is higher.
John Drzik, chief executive of the management consulting firm Oliver Wyman, said that deeper problems could be brewing in much of the developed world, where overextended governments face political, economic and demographic pressures to reduce social protections, pensions and other commitments.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com