Commitment to Croke park deal will derail our recovery
Forget the bank bailout, it's high public sector pay that will hinder our revival, writes Marc Coleman
PUBLIC sector pay that is higher than private sector pay, and much higher than EU norms, despite recent cuts. A public pensions liability of €108bn -- three times the cost of the bank bailout. Revelations that retired public servants are receiving pension payments as high as €155,000 per annum. And then the news that hundreds of thousands of euro has been spent by the HSE on a hospital that doesn't exist. Oh, and I mustn't forget the fact that of the €5.3bn in cuts recommended in the McCarthy report, none of them in pay or pensions, €3bn have yet to be implemented.
Were all these problems tackled in the next budget, Brian Lenihan could solve our budgetary problems without raising a cent of taxation and our public servants would still be among the best paid in Europe.
Unfortunately, greed at the top of our State and semi-State sector is as prevalent as it was in our banks. And because they are more numerous as voters, they have power that bankers can only dream of.