There is a matter which flows from the judgment which sets the stage for another episode of intellectual brinksmanship, of intellectual dishonesty, denial and tomfoolery. On that notion, all manner of manoeuvers and machinations were manufactured to the cause the ‘problem’ to go away - it did not - and now the chickens have come home to roost. The hope among some was that the ‘problem’ will somehow go away. Since 1985 Public Administrators and Policy Analysts knew or verily believed that the Pension Disqualification Act could not stand. The Glasgow judgment demonstrates the folly of such behaviour. Most importantly, intellectual brinksmanship is not on when it comes to public finances. The stock of public debt will be unchanged and the country, economy and society will be better off for it.
TIMELY MATTER OR MANNER FREE
Therefore, the fiscal authorities should raise the money from those who are in the business of lending, not from retirees who justly deserve to live out their evening years in dignity free of torment and botheration.
These substitute lenders are entities and individuals who can rent out their money to the state and wait to collect it later. They are not ill with mounting medical bills or treatment they have to go without they are not bedridden, or have houses in dire need of repairs or retrofitting for wheelchair access or grandchildren for whom they want a future much better than theirs. Now, these new (substitute) lenders can wait to get back their money. Should the fiscal authorities borrow from the financial system, this new (substitute) set of lenders (banks, insurance companies, social security schemes, private investors etc.) will replace the current lenders i.e., the old, ageing and dying retirees. They are persons robbed of their dignity and stripped of their pride. These retirees, as lenders to the state, are old and ageing persons in dire need of their monies.
TIMELY MATTER OR MANNER FULL
This component of the public debt i.e., the amounts that are due and owing to the retirees should be settled in full and in a timely manner. So, the public debt has already increased by the full amount that is due and owing as a consequence of the judgment and is a charge on the Consolidated Fund. It is an addition to our stock of public debt as defined in the Fiscal Responsibility Act (Act 29) of 2015. In truth, in fact, and in law the arrears of pension and gratuity is a debt (an amount due and owing). One approach is rooted in compassion, dignity, love of humanity and country the other is not. There have emerged 2 fully crystallised approaches to funding the arrears of pensions and gratuities arising from Justice Glasgow’s ruling.
Borrow and pay in full and in a timely manner - there is no increase in the public debt.
0 kommentar(er)
