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Politicians pay versus GDP, where do we rank?

  • 15-07-2013 7:40pm
    #1
    nesf
    Registered Users, Registered Users 2 Posts: 27,644 ✭✭✭✭


    Table here: http://www.economist.com/blogs/graphicdetail/2013/07/daily-chart-12?fsrc=scn/fb/wl/dc/rewardingwork

    As you can see, we're around average in the EU, beneath the Germans for instance for this measure. However, as economists constantly remind us, our GDP and our GNP are very different which is rather unusual for a country and we should look to GNP figures rather than GDP figures when thinking about things like this (i.e. if GDP normally is a proxy for national earnings, in our case GNP is a far more accurate picture of the domestic market). Very roughly, our GNP is about 20% smaller than our GDP (the number is closer to 18% but 20% is easier for people to visualise. So we're perhaps just below the US from me eyeballing it.

    Just to put the arguments about TD wages in context. The figures seem to be for base salary + average expenses.


Comments

  • #2
    Sir Humphrey Appleby
    Closed Accounts Posts: 3,465 ✭✭✭Sir Humphrey Appleby


    nesf wrote: »
    Table here: http://www.economist.com/blogs/graphicdetail/2013/07/daily-chart-12?fsrc=scn/fb/wl/dc/rewardingwork

    As you can see, we're around average in the EU, beneath the Germans for instance for this measure. However, as economists constantly remind us, our GDP and our GNP are very different which is rather unusual for a country and we should look to GNP figures rather than GDP figures when thinking about things like this (i.e. if GDP normally is a proxy for national earnings, in our case GNP is a far more accurate picture of the domestic market). Very roughly, our GNP is about 20% smaller than our GDP (the number is closer to 18% but 20% is easier for people to visualise. So we're perhaps just below the US from me eyeballing it.

    Just to put the arguments about TD wages in context. The figures seem to be for base salary + average expenses.
    Do these figures allow for the drop in basic salary for a TD to €87,000? I only ask as it only kicked in very recently under the Haddington Road measures.


  • #3
    nesf
    Registered Users, Registered Users 2 Posts: 27,644 ✭✭✭✭nesf


    Old and grey wrote: »
    Do these figures allow for the drop in basic salary for a TD to €87,000? I only ask as it only kicked in very recently under the Haddington Road measures.

    The figures are 2013 or as close as they could get. They don't specify country by country, you'd have to go hunt down the report to find that out and I'm too tired to do that right now.


  • #4
    Sir Humphrey Appleby
    Closed Accounts Posts: 3,465 ✭✭✭Sir Humphrey Appleby


    nesf wrote: »
    The figures are 2013 or as close as they could get. They don't specify country by country, you'd have to go hunt down the report to find that out and I'm too tired to do that right now.

    Well based on a TDs pre Haddington Road cut salary TDs were earning close to €92,500 which would equate to the $121,000 specified on your linked article, but would be before expenses not after, their new base salary would be approx $114,000 before expenses.


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