Unemployment is being privatised

Eddie Hobbs interprets the latest ESRI forecast in his latest blog entry, he says

1. Unemployment is being privatised – 1 in 5 workers in the private sector will be unemployed next year
2. The government is finished
3. By next year the state may be unable to pay public sector salariesBased on the ESRI forecast it is now the case that we may not be able to afford public sector pay cheques at all next year.

The math is that simple. How can we pay unemployment benefits to nearly a half a million private sector workers and finance our national debt but leave the public sector pay and pensions bill unadjusted at €20 billion, that’s 60% of all our tax revenues. Don’t they get it?

  • redhugh78

    Scary stuff but perhaps the scariest thing is they are still miles ahead of the economy in Norn Iron.

  • GavBelfast

    “Scary stuff but perhaps the scariest thing is they are still miles ahead of the economy in Norn Iron.”

    Yep, “miles ahead” as in much closer to oblivion?

    Your notion that the Republic is better-off than NI is baseless.

  • TA

    I think what is meant is that the Republic can take charge of public spending to get the economy back on track whereas NI will just continue sponging from an economy that cannot afford such levels of sponging.

  • GavBelfast

    The Republic isn’t in control of its own destiny.

    NI doesn’t sponge-off the UK as a whole any more than some other parts of the UK do – and less than some.

    You could just as easily say that the Republic previously sponged-off the rest of the EU ….

    On a purely economic level, I’m truly thankful that NI is part of the UK in the midst of this recession.

  • keith

    According to the UK’s DETI, working age economic inactivity rate for NI is 28.0%. This is significantly higher than the other 12 UK regions. A significant proportion of these people are Disability benefit claimants. South of the Border we would call this Unemployment