Here’s a screen grab
I then went to here http://www.thisismoney.co.uk/money/bills/article-1633409/Historic-inflation-calculator-value-money-changed-1900.html
And typed in £101,331 for 2003. This represents the mean 10PA contract value in 2003/4
The calculation if uplifted by inflation is £146,808. This is for a 10PA contract but most of us don't work a 40 hour week but a 48 hour week so a more common 12PA contact gives:
So if pay had kept pace with inflation since 2003 the average consultant on a 12 PA contract would currently be being paid £176,747. Compare this with the £140,000 in 4/5 years time that the department of health are about to fill the press with after Christmas when the general public is feeling broke.
Off course IPSA the politicians version of the DDRB felt that MP's needed an 11% uplift to their salaries to make up for their worsened pension scheme. I wonder what we'd have to add on to the £177,000 to achieve the same result?
Mike


