even if inflation was at 5% they wouldn't raise interest rates imo. they are sticking to the story that it will drop down to where their target is. IF it doesn't who cares anyway, the target is arbitrary, the focus is on low IR's and economic 'recovery' and old Danny Blanchflower [former mpc member] reckons we need a good dose of 4%+ inflation to inflate our debts away.
laserblazer (19th February 2010)
Never mind 15% I would be happy with just 3%
Ridiculous isn't it really? The comments about 'cannon fodder' and 'pen pushers' really annoy me, as it implies that all of us whose pay is being frozen are unimportant and 'fodder'...
And it seriously undermines the motivation to do much to save any of that public money yourself.. I mean why bother if arguably it's only going to subsidise the increases for a bunch of overpaid obnoxiously self-important [expletives] none of whom are so uniquely brilliant that they couldn't be replaced at a drop of hat?as it implies that all of us whose pay is being frozen are unimportant
Whatever happened to basic ethics/morality in public service (any kind) and people at the top of the s... heap leading by example? Did it ever exist?
How's that for motivation.....
What you have to look at now with councils and other public bodies, is how much they outsource, and how much like private sector orgs they wish to be run.....the heads of LA's are after all referred to as Chief Executives. I suppose the difference is that a public body may have a much harder job of getting rid of people than a private company....
the chief execs are an easy target because of the pay and because they are in the public eye, but i certainly don't envy the job.......the reality is the beancounters must have lost count of the number of people on 50k+ a year in the public sector, nor have enough of an idea of whether they need so many in that pay bracket or what contribution they're making. I don't think many people really cared when the chancellor was promising more money for this and more money for that. And the banks were lending cheap money to fund big ideas and projects. But now some sort of scaling back has to happen...
All they can do now that money is tight possibly is ask these people to retire early. Then ofcourse they are hired back the next week for whatever reason.
Whereever you look there seems to be a gravy train someone has gotten themselves onto, some with more gravy than others.....ever get the feeling your being left behind ?
Given how the last few generations were brought up to believe in individual choice, money as a measurement of success and that whatever you can do to get ahead you must do then there is zero chance of anyone ever running a large public body without a guaranteed six figure salary, massive pension, and all the expenses they can take regardless of the bodies performance while they are in charge.
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