Public sector pay must fall 6pc to balance books

Ireland“A 6% cut in public sector pay will be needed to make the Government’s budgetary sums add up, according to calculations from the Economic and Social Research Institute (ESRI). Those sums are already under strain, the latest quarterly commentary from the ESRI says. It expects a deficit on government operations of €20bn this year –equivalent to 12.2% of the economy’s output (GDP). For next year, as the economy continues to shrink, the deficit will be 11.4% of GDP …” (more)

[Brendan Keenan, Independent, 16 July]

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: