BB SAYS: Absolutely not! The government should INCREASE public sector pay by 25%. This can be financed by enormous increases in the national debt, that can be paid back sometime in the future, I’m sure. Even better, increases in the salaries of public service workers can be financed by raising taxes on private sector workers – especially low-paid private sector workers with no pension and no job security.
A READER WRITES: “I read your masterful analysis of the causes of the current global recession. Very persuasive. I would like to ask you about what Ireland should do about all this. There seems to be a lot of talk in the media about Public Sector pay in Ireland. Should the Irish Government reduce Public Sector pay by 10%?”
According to the ESRI, the average public sector worker in Ireland only earns 20% more than the average private sector worker. If one includes pensions, this pay differential rises to a mere 40%. In Ireland, the average public sector worker is older and more likely to have bought a house before the property boom, than the average private sector worker.
By increasing taxes on private sector workers, we can encourage young people to leave the country. Then the country will largely consist of ageing, well-paid public sector workers - and anyone who has a job will have a security and a pension, since the only jobs will be public sector jobs. Problem solved.
The increase in the national debt can be paid for by future inhabitants of this island – if there are any.
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