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<blockquote data-quote="shtove" data-source="post: 301124"><p><div class='quotetop'>QUOTE (gingergenius @ Feb 1 2010, 02:09 AM) <a href="http://index.php?act=findpost&pid=434505" target="_blank"><{POST_SNAPBACK}></a></div></p><p></p><p>Bullshit. I know our income has gone down by roughly 30% which is hardly not being hit is it? Also, a vast generalisation to assume every public sector worker makes bad investment, or any inverstments at all aside from bank accounts. Cop on.</p><p></p><p>If you're going to try and make a point at least back it up with some form of evidence.</p><p>[/b]</p></blockquote><p>Hey, it's a generalisation. But I do know that Joe Bloggs is losing his house because he's lost his job. Not something that's happened to the public sector ... yet. 99% of people who turn up in debt court are private sector.</p><p></p><p>And you might be shocked to know how many local authority employees have buy-to-let portfolios. The figures aren't knowable, but there is a lot of over-investment by people who should be on modest wages.</p><p>[/b][/quote]</p><p></p><p>Well thats obvious. The point of private companies is that they fund themselves. So if they can't do that, then employees suffer. The public sector, however, works in a different area. They are non-profit orinetated, because the public sector is geared to making the country run efficiently and providing us with essential services like police, healthcare etc. It's not feasible to sack a bunch of nurses during a recession - it's not really an area that can be downsized.</p><p></p><p>That is one of the benefits of public sector work. You can earn more in many private sector jobs, but the public sector offers job security.</p><p>[/b][/quote]</p><p>That's a bargain everyone understands, no problem in principle. Add in upward only inflation linked pay rises, overtime, and bonuses modelled on the private sector = bargain broken, because taxpayers see heads-I-win-tails-you-lose. Biggest problem is that the unfunded pension liability of public sector is fantasy land - has to be paid by future taxpayers when alot of them simply won't have the moolah. Brown has overshot very badly.</p><p></p><p>California is trying to get to grips with this now, just when it's about to tip over into bankruptcy. Ireland too. Greece soon. UK when?</p><p></p><p>I do know a nurse who's had her income reduced 30% in the past year because of NHS overtime cuts. She says it's the same for everyone in her area, plus she has a BTL she can no longer pay the mortgage on. She's in the no-man's land of being above the tax credits limit. In fact a single mum on benefits and who rents has a greater net income, mostly made up of housing benefit + child benefit/tax credit. Ouch!</p><p>[/QUOTE]</p>
[QUOTE="shtove, post: 301124"] <div class='quotetop'>QUOTE (gingergenius @ Feb 1 2010, 02:09 AM) [url='index.php?act=findpost&pid=434505']<{POST_SNAPBACK}>[/url]</div> Bullshit. I know our income has gone down by roughly 30% which is hardly not being hit is it? Also, a vast generalisation to assume every public sector worker makes bad investment, or any inverstments at all aside from bank accounts. Cop on. If you're going to try and make a point at least back it up with some form of evidence. [/b][/quote] Hey, it's a generalisation. But I do know that Joe Bloggs is losing his house because he's lost his job. Not something that's happened to the public sector ... yet. 99% of people who turn up in debt court are private sector. And you might be shocked to know how many local authority employees have buy-to-let portfolios. The figures aren't knowable, but there is a lot of over-investment by people who should be on modest wages. [/b][/quote] Well thats obvious. The point of private companies is that they fund themselves. So if they can't do that, then employees suffer. The public sector, however, works in a different area. They are non-profit orinetated, because the public sector is geared to making the country run efficiently and providing us with essential services like police, healthcare etc. It's not feasible to sack a bunch of nurses during a recession - it's not really an area that can be downsized. That is one of the benefits of public sector work. You can earn more in many private sector jobs, but the public sector offers job security. [/b][/quote] That's a bargain everyone understands, no problem in principle. Add in upward only inflation linked pay rises, overtime, and bonuses modelled on the private sector = bargain broken, because taxpayers see heads-I-win-tails-you-lose. Biggest problem is that the unfunded pension liability of public sector is fantasy land - has to be paid by future taxpayers when alot of them simply won't have the moolah. Brown has overshot very badly. California is trying to get to grips with this now, just when it's about to tip over into bankruptcy. Ireland too. Greece soon. UK when? I do know a nurse who's had her income reduced 30% in the past year because of NHS overtime cuts. She says it's the same for everyone in her area, plus she has a BTL she can no longer pay the mortgage on. She's in the no-man's land of being above the tax credits limit. In fact a single mum on benefits and who rents has a greater net income, mostly made up of housing benefit + child benefit/tax credit. Ouch! [/QUOTE]
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