FF is finally saying what we need to hear on cuts
Pension time-bomb is ticking and someone must think outside the box to solve the problem, says James Fitzsimons
The party that was dead in the water might be making a comeback. It is certainly saying what the public wants to hear. In its alternative budget proposals, Fianna Fail would cut the outrageous pensions of former Taoisigh Brian Cowen and Bertie Ahern, as well as other senior public servants and bankers. They advocate cutting public sector pensions of between €75,000 and €100,000 by 25 per cent and those above €100,000 by 30 per cent. Fianna Fail would also cut bankers' pensions by 40 per cent. That would leave retired bankers with €200,000 or €300,000 to scrape by on.
They claim they have drafted legislation that would stand up to any challenge. But the Government says it cannot be done.