"Almost 900,000 public sector workers are to get an above-inflation pay rise, including doctors and teachers.......The Treasury said the money for the pay increases of up to 3.1% would come from existing departmental budgets." (My italics).
I mean, the idea that Departments keep the equivalent of a 2% of pay costs around, 'just in case'. Or indeed, the very idea of 'budgets' within which Departments are required to keep their spending! SOOO last decade.
All parties now agree: money is free, just help yourself. In fact, borrowing is a virtuous act. Doesnt really matter what for. Keynes said so. So that's OK then.
Well, party on. Later, the hangover. This we know.
I was formerly Finance Director of the Prison Service and then Director of the National Offender Management Service responsible for competition. I also worked in the NHS and an IT company. I later worked for two outsourcing companies.
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