Wallace owes is 20 million.
Remember Wallace owes the banks 19 million that will never be paid.
Of course his answer was that if they gave him time to work on his debt…… What?
Property prices will quadruple in the next 2 yrs and Mick will be back in the black. Mick Wallace has cost the tax payer 20 million and any employment he has ever provided is of no value compared to his debt.
Mick Wallace has cost the state dearly but we will forget that because he’s a nice guy and is involved in football.

Those wages (and those generous pensions and lump sums) are being largely paid out of massive borrowing from the troika. And the idea that paying the PS big wages and generous lump sums and pensions through this borrowing will grow employmemt is a bit off. Reaity is it just grows their savings accounts.

One day the troika will stop lending to pay these wages which are 50% higher than the UK equivalents. And the fun will begin.

50% higher? I’d like to see your workings. I compared Garda pay to PSNI pay and found very little difference.

Check average police pay in England. Check their pension arrangements too.
The difference in teacher and lecturer pay is even more stark.
The idea that cutting positions and not pay is good for the country is a joke. Cutting positions is a direct cut in services and cuts out options for the unemployed.
The troika know this (we saw it in the leaked paper), and when a second bailout comes (which it must if there is no global economic upturn to lift our export sector) then the CPA will certainly not be funded by it.
But I’m just saying most people expect anyway.

So you have no workings i take it.

He never does seanbeag. Just blind vitriol. Most public servants earn less than the average industrial wage and over 40% of those earn less than 20K. He’s talking through his hat as usual. Neils made quite the name for himself around here constantly attacking every type of person whos not exactly like him.

Wrong the borrowings are all to pay bankers and bond holders no need to borrow anything just stop borrowing billions to pay billions back to same circle. Madness you do know this right?

Completely agree with you. My girlfriend is actually better off on the dole. After all her expenses she is left with feck all. But people here would have you think that all public sector workers are have €50ball fights during their lunch break.

@ Nollaig, so your increment gives you a net of 30 euro, that would be an annual gross increase of approx 720, as a percentage of the average industrial wage that woul be nearly a 3% increase, which is above the inflation figure, and your complaining, in the private sector there are pay freezes and in some cases reductions.

Michael, with a pay freeze you are not moving backwards, it will take public servants 5+ years to get back to where they would have been if their pay had just been frozen instead of being cut 15%.

Please read what I said ” in the private sector there are pay freezes and in some cases reductions.” that is reductions…………..

Yeah, think I read a statistic somewhere that between 5-15% of workers in the private sector have suffered pay cuts. 100% of public sector employees suffered pay cuts.

I think you will find that figure of private sector who have taken pay cuts is closer to 68%, and the rest lost their jobs.

I think you’re making figures up now, Michael.

@Sara, no not making up figures, did omit that I should have stated “remainder” excluding those on pay freeze, aplogies for that,figures come from IBEC study

“What’s all this rubbish about increments, when I get mine each year its impact is insignificant. About ?30 a month of it may come to me the rest disappears into taxes, increased cost of living blah, blah……”

So you’re complaining that your guaranteed annual increase doesn’t cover your additional annual costs.

Ok, that’s a fair complaint. I wish I had a guaranteed annual increase to cover these additional costs too, including the extra costs being created by the public sector – have you noticed that the government seems to be increasing all possible charges that are levied on the general public for use of public services?

This is at a time when we are supposed to be REDUCING costs to be more competitive ….

Sara, he IS making up figures, and cherrypicking others. You can see what he’s up to further up the thread with his ECB report.

Paul the Octopus mark II

Well said Paul I totally concur.

Paul.
You pay more in to a pension because you get more out. But we will ignore that to use your term.
You get a full pension at what 55?
I’m not saying you are a high earner but I don’t know what argument you are trying to make. All this protect your own house nonsense.
Where do you get your statistics that most private sector workers got a pay increase last year?
It’s tough on most people but the one comfort you can take is you won’t face losing your job.
Everybody only sees the situation from their own little island. Try sitting on another island and the view is different

@ Sean. I hate to tell you Sean but I also pay the pension levy but because I am a retained firefighter I do not get a pension. The numbers were done a number of years ago regarding our gratuity payment. A clerk working for 25 and paying the pension levy will get the money he payed into it back in roughly eight and a half years but a retained firefighter working for 25 year, paying the pension levy and getting the gratuity at the end of service will never get back what he pays in as the gratuity is less than the payments total. I really wish that everyone would stop making sweeping statements regarding the “fantastic pensions that all public sector workers get” we do not all get these pensions and before anyone jumps in saying that it is only us this happens to , it is not, some teachers are in the same boat so are temporary office staff.

Sean, the retirement age for full pension in the public sector is 65, not 55. The amount of shite being spouted in this site is mind-boggling!

Other private sector workers are gettin pay rises….! That’s the reality also! A friend of mine last month told me he ” got an insane amount of money into his account and didn’t know what to do with it”

Just stating a fact that I can back up from personal experience, as opposed to second hand factoids and hyperbole.

So reading report bailout countries have highest differential between PR/PU salaries in favour of Public sector, so Italy next for a bailout………..

Unsurprisingly, periphery nations show the greatest gap between public & private pay.
Correcting this imbalance should be a priority if it’s required to get a deal on the bank debt.

Bench marking was accepted when private sector wages were higher, now that they have come down surely this should also apply to the public sector, and I know about pension cuts but these were too generous to start with.

They have come down. The Gross Pay has been reduced and the pension levy is deducted also. That’s a massive cut in basic pay. Shift allownaces have been reduced as well. Overtime is scarcely used these days. Any new staff hired also start on even lower wages. More wage cuts will lead to a lot of mortgage defaulting from the lower paid workers.

So has gross pay been reduced by 42% , which was the differential figure between Public and Private sector as per ECB study, I think not. Overtime is not a right, and those that added it in to their figures to obtain mortgages beyond their real means will now have to cut their cloth. Benchmarking is about aligning the wage structure and rates.

Overtime is not a right. But the absence of it surely reduces the pay bill substantially.

And does your 42% take into account the “pension levy” reduction?

Can you link to that ECB study Michael, cos it sounds like absolute crap. You may in a small number of cases be able to cherrypick a figure of 42% for a certain job, but across the public sector? Not a chance. Not even close.

The public sector pension is overgenerous in the first place, as pointed out by the troika, those in public sector are also in protected employment, which is why private sector should be above due to volatility factor.

http://www.ecb.europa.eu/pub/pdf/scpwps/ecbwp1406.pdf

Relevant section please if you don’t mind. You seem to be well versed on the facts so I’m sure you can find it faster than we can….

Seeing as though Michael didn’t want to post it…… The relevant cherrypicked figure is in table 3b and uses data collected from 2004-2007 i.e. before the 15% pay cut, and uses gross earnings per hour. When you actually use the calculation of a public servants yearly net salary that figure drops to 17%, again this is BEFORE the 15% pay cut.

Oh, and its an average across the entire sectors, it does not compare like for like which is the proper way to do it.

As a POR hourly rate is accepted international criteria, as weekly hours worked varies .I didn’t post table 3b, as if you can’t be bothered to read whole report you are the one cherrypicking, as for averages against like for like public sector comes off better than if you compare averages. Refering to the dates both sectors have fallen since study and private sector more so. Accept the fact you are a protected species………………

@Michael
A bit sweeping to state that private sector wages have fallen, so the public sector must follow suit.
The evidence points to the opposite in fact. We’re all aware of the pay cuts that public sector workers have suffered over the past 3 years, however they are often conveniently overlooked by those trying to make your argument.
It is also a sweeping assumption that that the private sector have also suffered pay cuts, and once again there is compelling evidence which is at odds with this:
http://www.independent.ie/national-news/no-change-to-private-sector-pay-despite-the-recession-3083667.html

So where does your 42% claim appear if not in the table using data from 2004-2007??

@ Too Truefelt, please read reply, stats are based on period “2004-7 both sectors”, both have now changed proportianaly….good night

How convenient that it was me that had to mention that the stats are from BEFORE THE CRASH and before the 15% across the board cuts for the public sector. And that those stats don’t mention like for like i.e. that a cleaner in the public sector might earn more than a cleaner in the private sector, but conversely a nurse in the private sector probably earns WAY more than a nurse in the public sector.

Thanks for playing. Off to bed with ya……

No wonder we’re in the mess we’re in, with idiots like you working in the public sector, I stated that stats referred to a given period and that after that both proportionally changed, which any idiot can infer that the stats are probably still valid, but that would not suit your way of thinking, As for nurses in the private sector, of which my wife is one, over the last 4 years their pay has dropped , where as in the public sector wages have increased above inflation, and that is FACT, so before spouting of get your facts right……………………

Well 5 seconds of my time was not wasted, your opening statement ” What’s all this rubbish about increments, when I get mine each year its impact is insignificant.” sounds like complaining to me. Have a good night….

@ Sean, I never said I should be left alone and the clerk, binman, or the likes wages should be cut, all I was stating was that I’ve had a massive reduction in my take home pay, somewhere to the tune of 23% over the last 3-4 yrs. I was also one of the idiots that bought an overpriced concrete den. I do a dangerous job and I want to be fairly rewarded for it. It’s not right that anyone working in the public sector, frontline or not, should also have to rely on state handouts, its disgraceful. What I will say is that there is a lot of tidying up to be done in the public sector & yes it could be done a lot quicker. Some departments in the council are a joke, I’ve no problem saying that. I also have an issue with the amount of social welfare dished out, and yes i did the sums, I’d only be worse off to the tune of €83 a week if I was on welfare in the same circumstances, that’s a weeks work for €83, but ta f**k if I’m sitting on my hole doing nothing ( that’s is by no means anyway directed at anyone that has lost their job) This country is backwards and needs serious reform on all levels, quick. But whilst that Dail is full of gangsters it ain’t gonna happen. Again, keep safe & hopefully we don’t meet :) take care.