Burning our money: Pay Crunch

Link: Burning our money: Pay Crunch.

As I head back to Eastern Europe energised for a new year of invisible exports on behalf of the City of London, I was amused to read Wat Tyler's summary of Britain's current situation. He wittily explains my current sense of political deja vu. While his 1970's fashion references (which made me wince at the memory of being thus clad) will go over the heads of the blogosphere's younger readers, I urge you to read the whole thing.

It is finally becoming apparent to all (as it was apparent to those with grey hairs from the outset) that the only thing "New" about "New Labour" is the slick professionalism with which its leaders lie. As Tyler observes:

Paywise, public sector workers have done well under Labour. Just as they always do. But just as always, once the money's gone, they're the first to feel the pain.

As taxpayers we can only sit and grind our teeth. Once again, a Labour government has blown a shedload of money on hiking public sector pay. And once again, it's ended with most of the public sector deeply demotivated and ready to strike.

Quite. The Labour leopard never really changed its spots, it just put on a Bill Clinton wig and faked his disarming smile.