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ECB attacks public spending and public wages across Europe

While the UK government seems intent on attacking private companies and the levels of remuneration which they have agreed with employees, the ECB has gone on the attack with regards to the public sector and public wages. This comes a time when the Irish government has been forced to implement substantial changes in public sector pension funding which will see pensions reduced in the future, but state funding fall as well.

This seems very much at odds with Gordon Brown who has continued to pump billions upon billions of pounds into the UK public sector as a means of trying to cover up problems in the private sector and the ever increasing number of unemployed in the UK. Public sector pensions have become a major issue in the UK with a large proportion of council tax payments being used to fund the ever-growing liability which the government has taken on.

At a time when many private workers in the UK are unable to afford their own pension arrangements we see more and more public sector employees signing up to final salary pension schemes which are virtually extinct in the private sector. It seems very much a case of "do as we say not as we do" with the UK government happy to see final salary pensions fail in the private sector but keep them very much alive, at taxpayer's expense, in the public sector.

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