Lorell Hall Announces Wage Increases
Category: HNN Broadcasted on 22MAR23 - 21:20:42hrs Author Zayth Kadrim Comments: 4
Lorell Hall has today announced the completion of the year 4049 review into government wages, which will see a steady wage increase across the board for all government officials and military officers.
A Lorell Hall spokesman elaborated on the announced changes;
“As instructed by the Fountain Palace, the Ministry of Finance has surveyed the galactic inflation rates, against the backdrop of our continued economic growth evident within the Hapes Cluster. As an outcome of its findings, and in conjunction with the discussions held with Lorell Hall’s economic committee, the conclusions support a sensible and proportionate wage increases to be instituted across the whole pay structure.
While it has become typical for the public sector and our armed forces to receive raises every few years, it should be noted that they are always grounded in the financial fundamentals of the state. As such I am pleased to say that we believe we have been able fulfil the expectations of His Majesty in this regard, while remaining within the parameters recommended by the Ministry of Finance for moderate expenditure increases.
Our entry level wages see an increase of roughly a third, with the impact up the structure comparatively more muted if similar in absolute terms. This brings us better in line with the majority of foreign governments out there with entry level wage set to ten million credits per month, though it should be stressed that Hapes Consortium is doing so to respond to the continued growth of its income base, as well as to the inflation to the costs of basic goods, living expenses or luxury goods. What we were not interested in, however, even as one of the foremost economic powers of the galaxy today, is competing with foreign governments or companies in their race to spend more in this regard. If it wasn’t for the inflationary pressures and its impact on the public, we would be only pleased to see them tie down more of their budgets in that regard.
We are fortunate though in that the government’s wage expenditure as a proportion of its income had in the past years shrank to record lows, to barely fifteen percent, even as we have seen our entry level wages increase seven-fold in roughly as many years with employment rates stable.
These favourable circumstances have allowed us to continue to invest more freely into our future, and external acquisitions of services and goods. A far cry, one could say, from the worst year of the past galactic recession, during which the government was spending momentarily considerably more than half of its income on payroll alone, with many projects funded from government credit reserves, ample as they may be.
Citizens regardless need not worry that today’s changes would unduly burden the state either, for though the proportion of the wage expenditures of the total budget is expected to increase noticeably, economists are estimating it would still not come to account for more than a fourth of the overall budget, a very healthy proportion by galactic standards. Just the same, Fountain Palace has stated its confidence in seeing that figure drop down to perhaps a fifth over time, presuming the present economic growth model predictions hold true for the coming eighteen months.”
Furthermore, Lorell Hall used the opportunity to further announce that in line with His Majesty’s wishes, the government is committing to launching the Archais Initiative this year, a project for the improvement of communal quality of life long rumoured indefinitely delayed if not mothballed entirely. It is believed the wage increases were first to complete, given its relatively straightforward nature and high confidence in its impact assessment, whereas several government and military projects, structural and process management related, which are slated for this year, will require comparatively more cross-departmental involvement and preparatory work.
“This was a relatively fast one to get out of the way” the spokesman confirmed. “But no one in the Lorell Hall gets to call it a year and clock out here, if anything the remaining goals impressed upon us for this year are more ambitious than the years prior. The work will continue, and we look forward to being able to make more of them public.”
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