The reassuring mantra that to pay rich people to work harder you pay them more and to pay poorer people to work harder you pay them less is reasserted by right-wing ‘think’ tank the Policy Exchange, which has bust its gut to come up with the ripping idea that actually cutting the pay and pensions of the public sector is better for the community.
They use the interesting phrase of ‘rebalancing the pay and pensions of public sector workers so that they are in line with that of equivalent workers in the private sector’.
Anyone who has worked in the public sector for the last 20 years would have seen the cost of their pension rise and the value of it fall, which doesn’t sound like a desirable situation for anyone – a race to the bottom, in fact. A situation which attacks confidence, and stymies growth.
Wouldn’t it be better to ensure living wages and pensions for everyone rather than attacking a section of the community which works, pays its pension contributions as well as taxes?
The report is amusingly titled Local Pay, Local Growth, and uses favourite emotive terms.
It seems the right-wing dislikes the idea of a single currency so much, they don’t even want one for the pound.