Tuesday, 7 December 2010

Slovak Politicians Lead the Way

Word comes via Open Europe today of an excellent defecit reduction initiative in Slovakia.

The basis for the idea, as described by National Council member Ondrej Dostal, is beautiful in its simplicity: "Lawmakers are responsible for passing the state budget in parliament, therefore responsible for the deficit level."

So why not relate politicians' pay to their performance, as is so often suggested for other public servants?

If draft legislation is passed, politicians' salaries will be bound to the deficit: the more they spend, the less they will earn.  They would each take home 15.6% less in 2011, double the size of the 2010 deficit of 7.8% of GDP.  Further cuts would follow the next year – although of only 9.8% if they manage to reduce the defecit to 4.9% as projected.

One can think of few better ways we might exercise the minds of our own MPs on achieving value for money for taxpayers!

1 comment:

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