It used to be the case that those who worked in the public sector were paid less than the private sector because of a number of other advantages, and notably among those a generous pension scheme. But with salaries that now exceed equivalent private sector roles at many levels those pension arrangements need to be reviewed.
We cannot have a quarter of Council Tax going on local Government pensions. We cannot have schemes which double in cost to the taxpayer every seven years. Since the Government came into power the cost of local pensions to the taxpayer has risen from £1.322billion to £5.009 billion far outstripping annual inflation rates. It is not sustainable and at a time when those in the private sector face pension cuts it is not fair either.
But that is not the end of the problem. A golden egg attracts admirers and the security and pension of a public sector job is taking more and more incentives away for graduates to join the private sector, at the very time when they are needed to help Britain out of recession.
The Prime Minister has presided over this exponential increase in public sector employment. He must now recognise that error and start to recede it.