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Thread: Beneficiaries of the Recession and the untouchables

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    Politics.ie Member west'sawake's Avatar
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    Default Beneficiaries of the Recession and the untouchables

    Has it escaped the attention of the Govt that some groups have actually increased their disposable income during this recession. Can they be targetted this time to carry some of the burden?

    Workers and management with relatively secure jobs in the Commercial State sector. Most got pay increases, most escaped the pension levy, and because of deflation they saw quite substantial increases in disposable income. This would be known as the sheltered trading sector of the economy. A nurse and Garda see their Net income fall by over 12% while workers in ESB, Bord Gais, Bord Bia, etc, have had income increases.

    People who have relatively secure jobs in the private sector, (insurance, Pensions industry) and hold tracker mortgages. Their mortgage repayments have fallen substantially and they have escaped pension levy hikes and pay cuts. They are better off.

    The Pensions industry whose portfolio managers still rake in bonuses and investment fees even when their clients funds drop. Their income has not fallen.

    The political class and its patronage supplicants, quangoes, those who wield the axe in the public sector and always protect their own jobs.

    The CEOs and upper management of the HSE, other PS departments, and possibly even some charities who receive state stipends, who cut the wages of their workforce and lay off front line staff, but never lay off managment or cut managements/CEO salaries. E.G. Is it true that the CEO of the Human Rights Commission earns 250,000? (Ireland is not a tin pot dictatorship with widespread human rights abuses, this is madness).

    Those who are now retired, enjoying defined benefit pensions, have their mortgages cleared, while their younger colleagues suffer huge drops in take home pay, have kids to rear and mortgages to repay. Who has the courage to take on that kind of grey vote, many of whom spend a lot of their time and money in their Spanish Holiday home?
    Last edited by west'sawake; 22nd October 2010 at 01:11 AM. Reason: Deleted reference to retail sector as workers have suffered a lot there.

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    +1

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    Moderator Cato's Avatar
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    Not a bad post. Just two quibbles.

    Retail a protected sector? Are you serious? There has been carnage in that sector. I've worked in retail (supermarkets and connivence stores) since 2002 and plenty of my former colleagues have lost their jobs and taken big pay-cuts. Other retail sectors have also taken a hammering. Check out the Retail Sales Index on the CSO site.

    I work for a charity that receives about two-thirds of its funding from the state. Everyone in that charity has taken a pay-cut, including the CEO and all the management. While that may not be representative of all charities, I have contacts in other charities who confirm the same.
    “I would rather be exposed to the inconveniences attending too much liberty, than those attending too small a degree of it." - Thomas Jefferson (yeah, I'm aware of the irony)

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    Politics.ie Member west'sawake's Avatar
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    Quote Originally Posted by Cato View Post
    Not a bad post. Just two quibbles.

    Retail a protected sector? Are you serious? There has been carnage in that sector. I've worked in retail (supermarkets and connivence stores) since 2002 and plenty of my former colleagues have lost their jobs and taken big pay-cuts. Other retail sectors have also taken a hammering. Check out the Retail Sales Index on the CSO site.

    I work for a charity that receives about two-thirds of its funding from the state. Everyone in that charity has taken a pay-cut, including the CEO and all the management. While that may not be representative of all charities, I have contacts in other charities who confirm the same.
    Fair enough Cato, I should clarify that workers in the larger multiples, Tesco, Dunnes, Supervalu including relatively new ones like Lidl and Aldi, have escaped wage cuts and the worst of the tax hikes, however the retail sector linked to the house building boom, furniture, interiors, etc, obviously has suffered greatly. Profit margins also in the sheltered trading sector are not suffering, due to their costs having fallen, thanks in part to the stronger Euro and greater competition in the Utility sector (Electricity costs have fallen)

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    Moderator Cato's Avatar
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    Quote Originally Posted by west'sawake View Post
    Fair enough Cato, I should clarify that workers in the larger multiples, Tesco, Dunnes, Supervalu including relatively new ones like Lidl and Aldi, have escaped wage cuts and the worst of the tax hikes, however the retail sector linked to the house building boom, furniture, interiors, etc, obviously has suffered greatly. Profit margins also in the sheltered trading sector are not suffering, due to their costs having fallen, thanks in part to the stronger Euro and greater competition in the Utility sector (Electricity costs have fallen)
    I used to work running SuperValus and Centras and they have taken a hammering. Many have lost their jobs. All the stores I used to run have had to downsize and cut pay rates to those not protected by JLCs. Talking to the Regional Manager for Musgraves (who own the SuperValu and Centra brands) he tells me that the experience of the group I used to work for is common to other SVs and Centras.
    “I would rather be exposed to the inconveniences attending too much liberty, than those attending too small a degree of it." - Thomas Jefferson (yeah, I'm aware of the irony)

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    Politics.ie Member west'sawake's Avatar
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    Quote Originally Posted by Cato View Post
    I used to work running SuperValus and Centras and they have taken a hammering. Many have lost their jobs. All the stores I used to run have had to downsize and cut pay rates to those not protected by JLCs. Talking to the Regional Manager for Musgraves (who own the SuperValu and Centra brands) he tells me that the experience of the group I used to work for is common to other SVs and Centras.
    Thanks for that dose of anecdotal reality, I'll amend O.P accordingly.

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    Politics.ie Newbie MadAsHell's Avatar
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    Quote Originally Posted by west'sawake View Post
    Thanks for that dose of anecdotal reality, I'll amend O.P accordingly.
    very good sequence of information, replies, amends and sense.

    WELL DONE. just when i was giving up on P.ie having some sane folk
    But first get up out of your chairs, open the window, stick your head out, and yell, and say it: "I'M AS MAD AS HELL, AND I'M NOT GOING TO TAKE THIS ANYMORE!"

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    Just wondering why does our most senior judge - CJ John Murray - gets paid 310,000.00 euros plus expenses, substantial pension entitlements and a pension of over 70,000.00 for his time as attorney general. This man is paid more than the most senior judge of the Us supreme court. There are over 300,000,000 people in the US conpared to 4,500,000. So for every euro the US citizen pays towards their senior judge we pay around 80 euros.

    also why do we need a fire officer, registrar, manager for every county?? Why have we so many planning authorities in ireland?.....When's the last time noel dempsey made any substanial contribution to any debate this year? he seems to be opening roads bridges and chip shops?/ What a waster?????????????????

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    Politics.ie Member eoghanacht's Avatar
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    The 8th of December will be an interesting day.

    Good OP btw but you've neglected to mention the wealthy, the ones you were cute enough just to dabble in property. Who's fortune's may have taken slight hit but if taken into account of say their net worth ten years ago they are up.

    Bigger shoulders should bear a bigger burden, they'll hardly become destitute c'mon if their input keeps more Gadraí on the street and more hospital wings open isn't it time they 'donned the green jersey'?
    Britain operated death squads - ''97% of the Loyalists I interviewed were working directly for the State.'' - Nuala O'Loan. #FreeAhedTamimi

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    Politics.ie Member Inda Kenny's Avatar
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    Have to agree about the grey brigade if you cut social welfare you need to cut the pension.

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