[Greens-Media] Corporate mega-salaries invade NSW public service
John Kaye
John.Kaye at parliament.nsw.gov.au
Thu Dec 4 07:19:02 EST 2008
Corporate mega-salaries invade NSW public service
Media Release: 4 December 2008
The Rees government has opened the floodgates to out-of-control corporate mega-salaries for public service bosses, according to Greens NSW MP John Kaye.
Dr Kaye said: "Last night the NSW parliament removed the cap on the salary package for the CEO of State Super.
"Arguing that $428,900 a year is not enough to attract suitably qualified candidates to manage the investment fund, the Rees government has plunged the state's public sector into the hyper-inflated market for CEOs.
"At a time when Australians are increasingly impatient with the multi-million dollar salaries paid to corporate heads, NSW Treasurer Eric Roozendaal has broken open the ceiling on Senior Executive Service pay checks.
"This is an insult to career public servants.
"While many frontline public sector workers effectively face pay cuts, the sky's the limit for the Super fund boss.
"The NSW government should not be contributing to the growing gap between corporate sector salaries and households struggling to survive on the minimum wage.
"Currently Australia's one hundred highest paid CEOs earn 140 times the minimum wage.
"There are plenty of NSW public servants who could do the job without competing in the corporate fat cat pool.
"There is no evidence that pushing up CEO salaries contributes to improved corporate performance.
"Treasurer Roozendaal has fallen for the myth that only excessive pay can attract quality senior managers.
"The NSW government has become part of the bidding war that drives up corporate CEO pay checks and widens the economic chasm that divides Australia," Dr Kaye said.
For more information: John Kaye 0407 195 455
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John Kaye
Greens member of the NSW Parliament
phone: (02) 9230 2668
fax: (02) 9230 2586
mobile: 0407 195 455
email: john.kaye at parliament.nsw.gov.au
web: www.johnkaye.org.au
mail: Parliament House, Macquarie St, Sydney NSW 2000
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