Government
Is it right that public sector workers suffer for government mistakes?
No matter how the government and various political parties attempt to wrap up the issue of public-sector pensions there is no doubt that public sector workers will suffer one way or another because of decisions made by previous governments. While it is easy to place all of the blame at the doorstep of the Labour Party the truth is that previous governments also played their part. But is it right that public sector workers need to suffer because of government decisions in the past?
It seems blatantly unfair that public sector workers, who were promised a specific remuneration package when they signed up, are likely to see these particular pension arrangements withdrawn over the next few years. At best they can expect a small increase in contributions and a longer working life and at worst they are likely to see their final pensions calculated using average earnings throughout their career.
Is PFI coming back to haunt the government?
While the Conservative government initially created the idea of the Private Finance Initiative (PFI) there is no doubt that this particular initiative flourished under the former Labour government. However, there are major concerns as the short-term cost savings from many PFI projects are turning into long-term liabilities for departments such as the NHS and Education.
A recent report suggested that PFI projects with regards to the NHS could cost upwards of £50 billion more than the initial cost of the project. This is around four or five times the initial cost of the projects and is simply a consequence of long-term contracts entered into to run these particular establishments. While there’s no doubt that PFI has allowed many projects to be brought forward by the UK government that may well have long-term consequences for funding in the future.
Popular Posts
- Foreclosures Can Have Lasting Credit Effects
- Weekly Review-Giveaway, Deadly sins, Debt busters and more
- Is Your Identity at Risk from Friends and Family?
- Why the Duel Between Obama and Wall Street Over Elizabeth Warren Isn’t Only About Her
- Green Shoots at Last: Small Business Lending Finally Starting to Thaw
- Rule of Law: Why We Need to Freeze Foreclosures
- How the Foreclosure Mess Could Cause Banks to Crash
- Walking Tall: Illinois Sheriff Refuses to Evict Homeowners
- Nick Clegg appeals to Liberal Democrat party faithful
- $4 Gasoline, Again
- Bank of America to Eliminate Overdraft Fees
- Capital One Rewards Catalog 2011 Is Here
- Dollar Matters: It’s for the Kids Edition
- SmartPhone Apps For Personal Finance
- UK motorists warned of fuel price rise
Similar Posts
- Government announces changes to pension age
- Public sector borrowing less than expected
- UK motorists warned of fuel price rise
- South Africa’s tourism continues to struggle
- Is the long-term growth trend in UK property still in place?
- Vince Cable promises one-in one-out policy
- 6 Tips for Working a Career Event
- Connaught calls in the administrators
- The (Next) Big Short: Current Investments of Michael Burry and Steve Eisman
- Will the young of today ever climb onto the property ladder?
- Community Karma: Elle’s Easy Investing Tips for Beginners
- Preparing For Your Peak Income Years
- Weekly Review-LinkedIn: Social Media Bubble or Next Google?
- Exempt vs Nonexempt Employees
- Italian hotel industry planning street march against new tax