Chickens have come home to roost over world debt

DAVID Hide, chairman (where did this idiotic idea of calling people ‘Chair’ come from?) of the Horsham Labour Party, guessed correctly that his letter in the County Times would be like a red rag to a bull.

Mr Hide, like most members of the Labour Party, clearly suffers from memory loss.

How dare he talk about levelling up of private sector pensions when one of the first actions taken by Gordon Brown when New Labour came to power, was to destroy what had been recognised as some of the finest private pension schemes in the World.

And while on the subject of levelling, it is Labour which dumbed down the education system, starting with the introduction of comprehensive schools 50 years ago.

You did not have to be wealthy to attend the local grammar school, just someone who was bright and wanted to learn. Now everyone gets a mediocre education regardless.

People with far greater economic knowledge than me, and probably David Hide, recognise that the difficulty the world faces now is not a banking crisis but one of sovereign debt.

As Angela Merkel recently noted, ‘over the past few years we have spent more than we have earned’. In the case of New Labour this is a massive understatement. Tony Blair and Gordon Brown spent taxpayers’ money like there would be no tomorrow, while at the same time incurring billions of pounds worth of debt under PFI contracts.

Under New Labour all areas of the public sector increased staffing levels enormously. Gordon Brown’s philosophy seemed to be that of the Communist Soviet Union, employ everybody in the public sector, make them dependent on the State and then you can control everything they do and be in power indefinitely.

Of course nothing is infinite and now the chickens have come home to roost.

Fair economy or not, the cost of the public sector is unsustainable and if we continue on the path set by Gordon Brown and Ed Balls the country will quickly run out of money and, like in Greece, public sector workers will go unpaid.

This may well suit the well paid union leaders and their anarchist agenda, but is not what most sensible people want.

The annual cost of public sector pensions is £33bn, about the same as the annual general spending on schools, funded primarily by the taxpayer. This cost can only grow as public sector workers retire earlier and live longer and is unaffordable.

The average public sector worker now earns 30 per cent more than those in the private sector, with a pension several times higher, yet while the private sector worker contributes to the public sector worker’s pension, this does not happen in reverse.

It is little wonder then that the workers in the private sector feel aggrieved, a situation that is not good for the country, but to suggest, as David Hide did, that the solution is to increase private sector pensions is not simply unrealistic but is clearly nonsense and would not solve the problem of a country that spends far too much and is massively in debt.

David Hide should also note that while he supported the recent strike, only 22 per cent of Unison members voted for strike action, which would suggest that the majority of public sector workers were against the strike.


Broomfield Drive, Billingshurst