The big deal

The Prime Minister may have developed an unwelcome reputation for U-turns, but not only is this a far more important matter than privatising forests, for instance, it is also one on which Mr Cameron reckons he has public opinion on his side.

Most voters, after all, work in the private sector where the type of gold-plated, final-salary pensions available to state workers are rapidly heading for extinction, while retiring at 60 has been an impossible dream for the majority of employees.

This is why the unions would be very foolish to reject the latest deal, which allows anyone within 10 years of retirement to continue with their current final-salary pension schemes. It is also why union leaders’ blithe assumption that the public will automatically support a programme of strike action may be very far from the truth.

By pressing ahead with their plans, the unions would cause huge disruption to the country at a time when the economy is acutely vulnerable. This is soon likely to erode any initial rush of support for strike action and stoke up further resentment between public and private sectors.

Union leaders need to grasp the reality of Britain’s economic position and accept that they will not get a more generous offer than the one outlined to Parliament by Treasury Minister Danny Alexander yesterday. To do otherwise would be an act of irresponsibility that the rest of the country would find hard to forgive.