Excellent article from John Fitzgerald in the Irish Times today.
He points out that pre-boom the Public Sector enjoyed a 20% margin on like for like jobs in the private sector (ignoring their vastly superior pension). Pre-Benchmarking the differential was 10% but instead of reducing Public Sector pay benchmarking further widened the gap.
That 20% differential was paid for with boom time taxes and is simply unaffordable in a balanced and sustainable economy.
He points out that pre-boom the Public Sector enjoyed a 20% margin on like for like jobs in the private sector (ignoring their vastly superior pension). Pre-Benchmarking the differential was 10% but instead of reducing Public Sector pay benchmarking further widened the gap.
That 20% differential was paid for with boom time taxes and is simply unaffordable in a balanced and sustainable economy.
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