David Cameron, it has to be hoped, is setting the agenda and preparing the ground for some major reductions in the non-productive part of the economy in the attempt to reduce the deficit, rein back in the absurd spending and waste and to get the public sector 'out of the way' so that enterprise and commerce can create the necessary jobs to rebuild our economy.
It has to be hoped that he takes a bludgeon to the public sector:
1) Reduce public sector salaries on a tiered basis: 5% on salaries >£40k (so marginally above the 40% tax threshold); 7.5% on salaries >£60k; 10% on salaries >£80k; 12.5% on all public sector salaries >£100k;
2) Increase the retirement age by two years for everyone under 55;
3) Move all public sector employees under the age of 40 onto defined contribution schemes immediately.
Let's hope that 22 June is the date that the public sector stops 'crowding-out' the private sector so that resoucres can be allocated efficiently within the economy.
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