How to get rid of public sector non-jobs

Even as local authority budgets are about to slashed, councils are still advertising nonsense jobs at astronomical salaries. Why? And how can we get rid of them?

I went on the Today Programme last Saturday along with several other regular contributors to give one money-saving tip to our new government. Mine was to do with pensions. You can listen to what I said here(fast forward to 51 mins 45 secs), or read my full argument here: The UK's pension rules are too generous.

But the core idea is pretty simple. We should cut the amount that we allow people to save into a pension so that they are able to save just enough to prevent them from being a burden on the tax payer in their retirement, and no more. Obviously they can still save as much as they like outside a pension just not in such a way that it is subsidised by the taxpayer.

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Merryn Somerset Webb

Merryn Somerset Webb started her career in Tokyo at public broadcaster NHK before becoming a Japanese equity broker at what was then Warburgs. She went on to work at SBC and UBS without moving from her desk in Kamiyacho (it was the age of mergers).

After five years in Japan she returned to work in the UK at Paribas. This soon became BNP Paribas. Again, no desk move was required. On leaving the City, Merryn helped The Week magazine with its City pages before becoming the launch editor of MoneyWeek in 2000 and taking on columns first in the Sunday Times and then in 2009 in the Financial Times

Twenty years on, MoneyWeek is the best-selling financial magazine in the UK. Merryn was its Editor in Chief until 2022. She is now a senior columnist at Bloomberg and host of the Merryn Talks Money podcast -  but still writes for Moneyweek monthly. 

Merryn is also is a non executive director of two investment trusts – BlackRock Throgmorton, and the Murray Income Investment Trust.