Ministerial Pensions

No I dont want wages cut in the sector. I have outlined what I think should happen. I am moaning as we are heading into an absolute clusterphuck with regards to a recession. I have outlined a number of links outlining this and people on here are looking for pay rises for inflation then ignoring the inflation vs public sector pay per head in the years preceding 2021 when our current bout of possibly temporary hyper inflation kicked off. What happens if say there is a 10% pay rise this year in the public sector and the recession hits hard and when I say hard I mean job losses in the private sector, the taxes being paid in being eroded and our outgoing for social welfare going up.. This is what will happen there is no escape our Ireland with our open economy we depend too much on others add in borrowing for us will not be an option once interest rates grow. There is no way the majority of our small to medium businesses will survive the current inflation for energy and we are a long way off from seeing this bite, the expectation of pay rises to match inflation and turn a profit, they don't have the magic money tree of the ECB money printers to turn to any more. I have a feeling we will see the IMF back in here within the next decade to tell us to cop on and cut our massive spend again.

So let’s compare against the banks, which would be a closer comparator of mostly professional staff.

Banks are you having a laugh 2 of the bigger banks (Ulster and KBC) here are leaving and the majority of their employees are heading to the dole queue :). Are you sure you want to compare with banks?

Its not moving goal posts but to simply leave out our enormous debt out of the equation when comparing pay rises is a bit ridiculous, we are the third most indebted nation per capita in the world and first in Europe. This has to be paid for and it will cost more and more as interests rates get higher and higher.

As for employment I have made the distinction of now and in the very near future and we have full employment now, but I have given links to where liquidations are up 8% in Q1 2002 (remember covid supports where still in play in this quater) so everything currently is still rosey. Give it 6 months as I explained already there is no way our small to medium businesses are going to survive the ongoing inflation in energy, along with the narrative being pumped in that everyone should be getting a pay rise. So quite simply these companies will not be able to keep up with inflation, pay rises and keep making a profit and as night follows day we will soon have a much bigger dole queue and a smaller work force paying the bills. Anyone arguing this point I simply say lets see where we are at the start of next year.

As for banks regardless of why they are leaving , they are leaving and the majority of their employees will be hitting the dole queue and you want to compare to them when 2 out the top 4 lenders and institutions with accounts have decided to leave Ireland. Really do want that comparison.?

I have put up links to the current issues in the US, UK and Germany, three countries who would likely be our biggest influence with regards to how our open economy is moving. All 3 are broken, America is technically in recession, Germany are talking about rolling blackouts within their businesses to get through the winter and the UK is showing on nearly every metric that they are heading for one hell of a recession. Our growth is starting to fall, our consumer confidence is at its worse level since before Covid and things like building new houses has stalled due to the enormity of the expense of getting supplies into build, its through the roof (no pun intended). We are seeing the largest energy suppler company in the country issue a statement stating that prices are going up by well over 30%, food prices going up. Our public sector will be more expensive to run by the end of the year as well with no increase in productivity attached to what ever pay rise they get.. A lot of MNCs have put a stall on new jobs. All of it points to one thing. People are currently cushioned by the cash that was pumped in for covid (30Billion) alot of which is still in savings accounts but these payments have recently stopped and will take time to filter into our trickle down economy. This money came from the ECB printing press these are now well and truly turned off as they battle both inflation and the 1 Euro going under 1 Dollar on the open market. As I said you can have a look on the internet yourself but it does not paint a pretty picture of where we are headed. I know will get the "ah he is full of it" and I retort give it 6 to 12 months . I would give the PS the deal outlined ages ago and leave it at that inflation could well be transitory and after the last recession we did see deflation of about 5%

Read the last 2 lines again

Where did I say that I said keep to the deal negotiated back before inflation was rampant

I'm not being flippant but that's not a lot of money for that job either.

Someone can earn 120-150k as a senior engineer in a pharmaceutical company in Ireland (outside of Dublin too). So 200k to be the leader of the country (or just to put up with all the shite they put with) isn't great. I'd guess it's about 10k per month after tax.

Edit: just did the calculation...

A 212k income nets you about 96k (if you're single), that's 8k per month, even less than I'd expected. That's not phenomenal money for the job. (link to calculator)