The UK's highest paid public sector worker gets paid £259,999.
Ireland's highest paid public sector worker gets paid €752,568
In June this year, the UK government released the names of 171 public servants who were earning more than £150,000.
John Fingleton, the head of the Office of Fair Trading was the top earner on £259,999 with NHS chief executive David Nicholson, in second place on £255,000. Hold that figure in your head for a moment.
Public sector pay is under attack in the UK as it is in Ireland - on Friday, Eric Pickles, the local government secretary, insisted that he will no longer tolerate salaries higher than David Cameron's basic pay of £142,500.
But if the UK public sector is full of "fat cats", the Irish public sector is full of "morbidly obese cats".
Tomorrow the Irish public face the most austere budget in the nation's history and public sector pay and pensions is at last on the agenda. But it is highly unlikely there will be any cuts that see top earners taking home less than the prime minister.
So back to Fingleton's pay of £255,000. It's not like for like, but the following will give you a flavour of the runaway public sector pay in Ireland.
http://www.guardian.co.uk/business/ireland-business-blog-with-lisa-ocarroll/2010/dec/06/ireland-public-sector-fat-cats
Monday, December 6, 2010
Monday, November 29, 2010
Schools' work experience programme extended
Schools will be able to employ teachers and other staff without paying them as part of a FÁS work experience Slave Labour programme that has been extended today.
Under the Work Placement Programme, schools will be able to employ for up to 40 hours a week and for up to nine months people who are currently unemployed.
Tánaiste and Minister for Education Mary Coughlan said the move would help unemployed people keep their skills up and gain valuable work experience.
Anyone brought in under the work experience scheme cannot displace another staff member and cannot fill a vacant post.
Schools may use the Work Placement Programme to engage teachers as well as non-teaching graduates and non-graduates.
The announcement comes after the Department of Education on Friday announced a freeze on the filling of vacant permanent teaching posts.
On Friday, the department also instructed schools to cut the pay of secretaries and other ancillary staff by 5%.
http://www.rte.ie/news/2010/1129/education.html
Government Statement on the announcement of joint EU - IMF Programme
Government Statement on the announcement of joint EU - IMF Programme for Ireland.
The Government today agreed in principle to the provision of €85 billion of financial support to Ireland by Member States of the European Union through the European Financial Stability Fund (EFSF) and the European Financial Stability Mechanism; bilateral loans from the UK, Sweden and Denmark; and the International Monetary Fund's (IMF) Extended Fund Facility (EFF) on the basis of specified conditions.
The State's contribution to the €85 billion facility will be €17.5 billion, which will come from the National Pension Reserve Fund (NPRF) and other domestic cash resources. This means that the extent of the external assistance will be reduced to €67.5 billion.
The purpose of the external financial support is to return our economy to sustainable growth and to ensure that we have a properly functioning healthy banking system.
The external support will be broken down as follows: €22.5 billion from the European Financial Stability Mechanism (EFSM); €22.5 billion from the International Monetary Fund (IMF); and €22.5 billion from the European Financial Stability Fund (EFSF) and bilateral loans. The bilateral loans will be subject to the same conditionality as provided by the programme.
The facility will include up to €35 billion to support the banking system; €10 billion for the immediate recapitalisation and the remaining €25 billion will be provided on a contingency basis. Up to €50 billion to cover the financing of the State. The funds in the facility will be drawn down as necessary, although the amount will depend on the capital requirements of the financial system and NTMA bond issuances during the programme period.
If drawn down in total today, the combined annual average interest rate would be of the order of 5.8% per annum. The rate will vary according to the timing of the drawdown and market conditions.
The assistance of our EU partners and the IMF has been required because of the present high yields on Irish bonds, which have curtailed the State's ability to borrow.
Without this external support, the State would not be able to raise the funds required to pay for key public services for our citizens and to provide a functioning banking system to support economic activity. This support is also needed to safeguard financial stability in the euro area and the EU as a whole.
Programme for Support
The Programme for Support has been agreed with the EU Commission and the International Monetary Fund, in liaison with the European Central Bank. The Programme builds on the bank rescue policies that have been implemented by the Irish Government over the past two and a half years and on the recently announced National Recovery Plan.
The Programme lays out a detailed timetable for the implementation of the measures contained in the National Recovery Plan.
The conditions governing the Programme will be set out in the Memorandum of Understanding and the Government will work closely with the various bodies to ensure that these conditions are met. The funding will be provided in quarterly tranches on the achievement of agreed quarterly targets.
The Programme has two parts - the first part deals with bank restructuring and reorganisation and the second part deals with fiscal policy and structural reform.
The requirement for quarterly progress reports covers both parts of the programme. When the documentation on the Programme is finalised, it will be laid before the Houses of the Oireachtas.
Bank Restructuring and Reorganisation
The Programme for the Recovery of the Banking System will be an intensification of the measures already adopted by the Government. The programme provides for a fundamental downsizing and reorganisation of the banking sector so it is proportionate to the size of the economy. It will be capitalised to the highest international standards, and in a position to return to normal market sources of funding.
Fiscal Policy and Structural Reform
The Ecofin has acknowledged the EU Commission's analysis that a further year may be required to achieve the 3% deficit target. This analysis is based on a more cautious growth outlook in 2011 and 2012 and the need to service the cost of additional bank recapitalisations envisaged under the programme.
The Council has today extended the time frame by 1 year to 2015.
The Programme endorses the Irish Government's budgetary adjustment Plan of €15 billion over the next four years, and the commitment for a substantial €6 billion frontloading of this plan in 2011.
The details of the Programme closely reflects the key objectives set out in the National Recovery Plan published last week.
The adjustment will be made up of €10 billion in expenditure savings and €5 billion in taxes.
The Programme endorses the structural reforms contained in the Plan which will underpin a return to sustainable economic growth over the coming years.
The Government welcomes the support shown to Ireland by our Eurozone partners and in particular by the United Kingdom, Sweden and Denmark who have expressed their willingness to offer bilateral assistance.
The Government also welcomes the assistance of the IMF.
As part of the Programme, Ireland will discontinue its financial assistance to the Loan Facility to Greece. This commitment would have amounted to approximately €1 billion up to the period to mid-2013.
The Government today agreed in principle to the provision of €85 billion of financial support to Ireland by Member States of the European Union through the European Financial Stability Fund (EFSF) and the European Financial Stability Mechanism; bilateral loans from the UK, Sweden and Denmark; and the International Monetary Fund's (IMF) Extended Fund Facility (EFF) on the basis of specified conditions.
The State's contribution to the €85 billion facility will be €17.5 billion, which will come from the National Pension Reserve Fund (NPRF) and other domestic cash resources. This means that the extent of the external assistance will be reduced to €67.5 billion.
The purpose of the external financial support is to return our economy to sustainable growth and to ensure that we have a properly functioning healthy banking system.
The external support will be broken down as follows: €22.5 billion from the European Financial Stability Mechanism (EFSM); €22.5 billion from the International Monetary Fund (IMF); and €22.5 billion from the European Financial Stability Fund (EFSF) and bilateral loans. The bilateral loans will be subject to the same conditionality as provided by the programme.
The facility will include up to €35 billion to support the banking system; €10 billion for the immediate recapitalisation and the remaining €25 billion will be provided on a contingency basis. Up to €50 billion to cover the financing of the State. The funds in the facility will be drawn down as necessary, although the amount will depend on the capital requirements of the financial system and NTMA bond issuances during the programme period.
If drawn down in total today, the combined annual average interest rate would be of the order of 5.8% per annum. The rate will vary according to the timing of the drawdown and market conditions.
The assistance of our EU partners and the IMF has been required because of the present high yields on Irish bonds, which have curtailed the State's ability to borrow.
Without this external support, the State would not be able to raise the funds required to pay for key public services for our citizens and to provide a functioning banking system to support economic activity. This support is also needed to safeguard financial stability in the euro area and the EU as a whole.
Programme for Support
The Programme for Support has been agreed with the EU Commission and the International Monetary Fund, in liaison with the European Central Bank. The Programme builds on the bank rescue policies that have been implemented by the Irish Government over the past two and a half years and on the recently announced National Recovery Plan.
The Programme lays out a detailed timetable for the implementation of the measures contained in the National Recovery Plan.
The conditions governing the Programme will be set out in the Memorandum of Understanding and the Government will work closely with the various bodies to ensure that these conditions are met. The funding will be provided in quarterly tranches on the achievement of agreed quarterly targets.
The Programme has two parts - the first part deals with bank restructuring and reorganisation and the second part deals with fiscal policy and structural reform.
The requirement for quarterly progress reports covers both parts of the programme. When the documentation on the Programme is finalised, it will be laid before the Houses of the Oireachtas.
Bank Restructuring and Reorganisation
The Programme for the Recovery of the Banking System will be an intensification of the measures already adopted by the Government. The programme provides for a fundamental downsizing and reorganisation of the banking sector so it is proportionate to the size of the economy. It will be capitalised to the highest international standards, and in a position to return to normal market sources of funding.
Fiscal Policy and Structural Reform
The Ecofin has acknowledged the EU Commission's analysis that a further year may be required to achieve the 3% deficit target. This analysis is based on a more cautious growth outlook in 2011 and 2012 and the need to service the cost of additional bank recapitalisations envisaged under the programme.
The Council has today extended the time frame by 1 year to 2015.
The Programme endorses the Irish Government's budgetary adjustment Plan of €15 billion over the next four years, and the commitment for a substantial €6 billion frontloading of this plan in 2011.
The details of the Programme closely reflects the key objectives set out in the National Recovery Plan published last week.
The adjustment will be made up of €10 billion in expenditure savings and €5 billion in taxes.
The Programme endorses the structural reforms contained in the Plan which will underpin a return to sustainable economic growth over the coming years.
The Government welcomes the support shown to Ireland by our Eurozone partners and in particular by the United Kingdom, Sweden and Denmark who have expressed their willingness to offer bilateral assistance.
The Government also welcomes the assistance of the IMF.
As part of the Programme, Ireland will discontinue its financial assistance to the Loan Facility to Greece. This commitment would have amounted to approximately €1 billion up to the period to mid-2013.
http://www.rte.ie/news/2010/1128/govtstatement.html
Eurozone agrees €85bn deal for Ireland
The European Union and the Government have announced they have agreed that Ireland will be provided with €85 billion in financial support.
Chair of the Eurogroup Jean Claude Junker said that the €85bn being made available to Ireland includes €10bn for recapitalisation of the banks, €25bn for banking contingencies and €50bn for budgetary financing needs.
The Government said in a statement that the State's contribution to the facility will be €17.5 billion, which will come from the National Pension Reserve Fund and other domestic cash resources.
http://www.rte.ie/news/2010/1128/economy.html
Thousands march against austerity measures
A crowd of up to 50,000 people have marched in protest against the introduction of spending cuts and tax increases by the Government.
More like 100,000 but thats RTE for ya!
Gardaí said that around 10,000 people started the march, however the crowd swelled to around 50,000 people as it moved down the quays.
Speakers at the march had estimated that the crowd was between 100,000 and 150,000.
A small group of around 400 protestors gathered outside Leinster House after the main rally had ended.
Bangers were lit and thrown among the gardaí along with snowballs and eggs. Some of the protestors were wearing masks and a poster with a picture of Brian Cowen on it was set on fire.
Kildare Street was closed to traffic for a short while, but many of the protestors have now left and the street has been re-opened.
http://www.rte.ie/news/2010/1127/economy.html
Friday, November 26, 2010
Thursday, November 25, 2010
ICTU Demonstration 27th November
Here are the details of the ICTU march planned for 27th November. As I have said in a previous thread - I have lost a lot of respect for the Trade Union movement but, nonetheless, I will be there on the day.
Assembly is at Wood Quay at 12.00 noon.
This is the moment we have to stand up and fight this corrupt government.
http://www.ictu.ie/
Assembly is at Wood Quay at 12.00 noon.
This is the moment we have to stand up and fight this corrupt government.
http://www.ictu.ie/
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