OK, this number ain\’t a surprise:
The true cost of pensions for all current public sector workers has been estimated at £1.2 trillion — equivalent to 85 per cent of Britain’s GDP and worth £20,000 for every man, woman and child in Britain.
But this is interesting:
Vince Cable, the Liberal Democrat Treasury spokesman, said yesterday that public sector pensions were “in danger of running out of control”. He said that changing the system was “the big test of political courage”, adding: “The system has to be reformed and there are various options, including shifting to an average salary basis and raising employee contributions, which must be pursued.”
He added: “Behind the fat-cat culture in the public sector is a wish to enjoy the rewards available in the private sector without the risks. But the truth is that many of those senior civil servants, parliamentarians, local government bosses and others who feel underpaid on their generous packages would sink without trace if they had to manage a business through the recession.”
D\’ye think that Polly and Ritchie, those who have been praising Vince to the skies recently for his grap of economic issues, are going to be praising this?