But even more frustrating than this theoretical misunderstanding is that the LPIT method has proved so popular because it has encouraged more long-term thinking, not less.
The committee has managed to grasp the wrong end of the pay package stick here. Their recommendations would set us back several decades to a pay model that we abandoned precisely because the new one was better at the MPs’ stated goals. Perhaps it is MPs’ pay that needs changing. If we offered the market rate, we might get some who knew what they were talking about.