Friday, October 28, 2011

We're worth it!

The government is not at all sure it can afford the scheduled CPI-based increases to pensions - about five percent. However you can rest assured we are 'all in it together' ... except the bosses of major corporations who have received ten times that increase in remuneration. Apparently this is quite fair because they decide their own remuneration and they think they are worth an average of 2.7 million per annum.

The leadership of Unite has correctly branded this as "obscene" but Len McLusky's solution is to give greater power to shareholders to curb directors' pay. One can't help wondering why a trade union leader isn's saying "what about the workers?" It is no use for union leaders to stop short in pious trepidation before the power of big business. The workers in these corporations could give you a very accurate picture of how much use these directors are and whether they should be given house-room let alone a salary.

It does however suggest a very simple solution to the pension crisis. Let pensioners award themselves a 50 percent increase - because we're worth it!

Derek McMillan

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