We will need to spend £100 billion in the next 10 years on power stations, if we are going to keep the lights on. If we pooled our pension fund assets, and created a Citizens’ Wealth Fund, we would be able to get those schemes going – from new roads to new tunnels to hundreds of thousands of new homes for sale or rent (to say nothing of the new four-runway hub airport we need). And these investments would be attractive, because typically they would have a much higher yield – 7 or 8 per cent – compared with the 2 or 3 per cent currently achieved by pension fund managers in bonds or gilts. Roads and tunnels can be tolled; airports have charges; railways have passengers – and so on.