The CBI has brought into the limelight the fact that public sector workers are currently paid, unjustly, 15% more than private sector workers. Ridiculous, I’m sure you would agree!
When we consider that 1 in 5 people are [unnecessarily] employed by the public sector, and that public sector pay accounts for over a quarter of all public spending, we can start to see the massive waste of our hard earned taxes.
Total spending in the 2006 Budget was £552Billion, so if we simply brought all public sector employees pay in line with the market levels, a saving of around £27.6Billion could be made.
Another result of these artificially high wages is that the best talent is being lured into the public sector and away from the jobs that can positively affect the economy in the private sector.
This Labour government is damaging the economy just as much as any previous Labour government.
The private sector could be better trusted to run many of the operations our tax is wasted on and give a better price for it too. The savings made could even plug the hole in public sector pensions (up to £1Billion) AND pay our national annual council tax bill (£22Billion)!
This is just the surface of the waste in the ‘New Labour’ system.
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I agree with your comments, except for the assertion that the hole in public sector pensions should be filled!
In my humble view any savings made should go into introducing US style relief in contributions paid on stock speculations. Much of the huge private pensions raid was made up of plundering cash tied up on the stock markets. This must be reversed to enable those who have worked in private business the opportunity to retire with a decent pension
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