With RPI running at 4.7%...
...it's still a real-terms fall in earnings for most of the population. At a time of rising fuel and food bills and with the rise in VAT to 20% in January, it means less disposable income.
Pay rises up thanks to recovery and inflation
Pay rises in the private sector are on the increase again as firms start to feel the benefit of economic recovery. Media pay rises are running at around two per cent this year, with over half between two and three per cent. Most staff expect bigger rises next year. Those in the public sector are likely to be less happy - …
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Friday 1st October 2010 09:19 GMT David Gale
None of that matters!
Whilst there will always be squabbles between private and public sectors, there are more pressing truths that make the discussion irrelevant. Firstly, the toxicity of debt in the world banking system has not gone away. What we have is merely a blip of calm on the back of tax-payer bail-outs. Secondly, my own informal research (that has never let me down - I forecast the collapse in 2006) is showing that we are now into deflation, with a consequent stagnation of the economy only a matter of months away. If the BoE tries to increase interest rates you can expect that stagnation will lead to a deeper recession than the one we've just had. Sorry to be all doom and gloom but the last recession is not like 1929 because we are very close to the situation repeating itself, again and again until the toxicity is shaken out. The difference this time is that, in terms of UK bank's debt, we are all now the shareholders.
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Friday 1st October 2010 11:31 GMT TimeBandit
Why doesn't it matter?
It does matter, there will still be people employed in the public and private sectors, there isn't going to be any overnight total collapse, we are a civilised country with a relativly stable governement and economy. IT systems still need to be looked after and maintained. Please elaborate why the public/private scetor divide doesn't matter?
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Thursday 7th October 2010 14:19 GMT Anonymous Coward
Yes apologies are due
I had no intention of being self-indulgent however I can only comment on my individual circumstances which are very different to those which are being suggested by some as justification for annihilation of public services. The pension (incidentally I'm due to retire at 67) is unlikely to be gold-plated (see http://www.bbc.co.uk/news/business-11466273). Likewise the 15 flexi days and 5 service days claim is untrue for myself and all my colleagues.
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Monday 4th October 2010 15:14 GMT Anonymous Coward
Maybe the divide is not so divisive after all
It seems to me there are pro's and cons in working for both. It's a question of whether or not you beleive the crap that sells newspapers. There's a nurse up the road from me who works long hours yet she hasn't got a ferrari. I'm not sure I'm willing to belive she'll get one when she retires either.
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Biting the hand that feeds IT
