Billions Needed to Bail Out Pensions ; Cost of Featherbedding State Workers Rises

Summary

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TAXPAYERS will have to fork out an extra Pounds 2.3billion a year to fund gold-plated public sector pensions as a black hole in the Government's finances doubles in just four years.

The cost of looking after retired civil servants and other state workers is soaring because current public sector staff are not paying enough into the state pension pot, according to official figures hidden away in the Budget.

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Extract

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Billions Needed to Bail Out Pensions ; Cost of Featherbedding State Workers Rises

Figures buried at the back of the red book which details Budget measures show that the shortfall paid by the Treasury in 2007-08 was Pounds 2.3billion....

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