The coalition government is destroying public services, jobs and the economy with destructive policies. They are robbing our society of future sustainability - taken from our pockets and our future and instead rewarding the bankers and their like.
Public sector workers face massive increases in pension’s contributions when their pay is probably frozen. That is a pay cut.
The reality facing loyal public sector workers includes massively higher pensions contributions, working for years longer for a much worse pension and all at a time cuts are threatening their jobs, which will then be axed on the cheap.
Index linking is reduced from RPI to CPI cutting pension benefits.
All of this is being justified because public sector pensions and supporting an aging population is unacceptable.
Let’s get a few things right:
There is an expected 5 % increase in age related expenditure over the next 40 years. That is £80bn extra annual spending in today’s money. Precisely zero of this is down to public sector pensions.
Government Actuarial Department figures of the cost of public sector pensions as a proportion of GDP show that they will reduce not increase over time.
So what do the ConDem cuts mean?
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