Abbott delivers danger bonus for military

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From The Australian:

TONY Abbott has retreated from his below inflation defence force pay rise of 1.5 per cent per year, unveiling a larger pay deal for the nation’s 57,000 full time uniformed personnel.

The Prime Minister today revealed the government would increase the pay offer from 1.5 per cent to 2 per cent per annum over the next three years.

…Speaking just outside the ACT, Mr Abbott said he had received advice that the move would cost about $200 million over the next four years.

Only fair given the plan to invade Ukraine, Nigeria and Iraq.

About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.