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Today Tonight -

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from 730 deceiving. we're all being asked to consider. Here's a question to help the economy? Would you take a pay cut on the line this year, With hundreds of thousands of jobs a social services overload the Government is facing for wage restraint, so the Prime Minister is calling at more and bigger tax cuts. while Simon Crean's been hinting So what's the answer? expert opinion. Clare Brady's been getting Is he crazy or what? Who is the winner here? It's certainly not us workers. Kevin Rudd should take a pay cut. I do agree with the Prime Minister that it is in. if the country is in the crisis Well, I want to see the evidence not taking any pay rises, either. of the bosses I reckon it's a fair thing. This is a financial crisis FILE FOOTAGE: of almost unprecedented proportions, it demands a response and so therefore as well. which is almost unprecedented in his own office. He could have started secret pay rises to his own staff, Instead, giving huge the $200,000 mark a year taking them to and over restraint from the rest of us. in the very week he demanded As we look at the year ahead,

with a sense of anxiety. most Australians are doing so must restrain their wage claims. Workers, too, For Prime Minister Kevin Rudd not as I do. it seems a case of do as I say, And a secret memo has revealed John Faulkner wants a 5.6% pay rise Special Minister of State

for top Government advisors. in their pays. That's up to $12,000 extra a year of people You're talking to a whole heap will increase quite substantially I think that unemployment in the next 12 to 18 months to as high as 7.5%

for the Australian economy. and that will be very bad $6.2 billion into the economy, So far, the Government has injected that workers need to do more. but on the suggestion It's not the fault of the workers. and the saviours. In fact, the workers are the victims hand over fist. Taxpayers' money has gone out it doesn't matter who you are. Everyone is involved, or the bottom of the chain If you're top of the chain

every single one of us it's affecting also been forced to fire staff. Leading retailer Gerry Harvey has in New South Wales closed last week The Domayne Campbelltown store

with 40 jobs lost. And Gerry says are on the cards to shut down. at least a further 10 stores the Government isn't doing enough. He says So how have we got a recession? in the world working on it You've got the best minds they're not getting anywhere. at the moment, and, really, But Government money alone to stop the slide. doesn't seem to be enough who will cop the brunt It is the workers start looking at ways to cut costs. as industries across the board It's frightening. You see these numbers are going to be laid off this year of how many more people am I going to get a job now?" and you think, "How the hell married to Fran for 15 years. Peter Tyson is a proud man two still living at home, They have four adult children, where the man is the bread winner. and comes from an era unemployed. He can't cope with his new title - as a purchasing manager After five years late last year. he was made redundant where Peter left off, Fran has picked up

working full time. we know where we're at We know the facts, as it comes and we just have to take each day and don't let it get on top of us of MM&E Capital Tom Elliott says Financial commentator our leaders need to do more. radical policy options overseas. We're seeing much more

In Britain, you're seeing of the banking sector the near nationalisation other industrial sectors, as well. and possibly Sharan Burrow agrees. President of the ACTU 200,000 jobs lost, 250,000. We could well see more than then we can do something about that. If we intervene, the big bosses made more money Last year, in a lifetime. than most of us will make Telstra Chief Sol Trujillo, In 12 months, even with his many overseas trips - $13 million. Macquarie Bank CEO Nicholas Moore - $26 million. And the big bank bosses - $17 million between them. This year they'll make the same. are scandalous in the big companies Look, I think CEO wages and up and up, that have just driven up CEO and directors wages, there's been no sense of reality. every one of them, should come out They should, one by one, and take a pay cut. to Peter Tyson. None of it is any consolation he'll continue to apply for jobs. This week, keep plugging away. Try and keep your confidence up, It is predicted will be lost in Australia that close to 300,000 jobs by the end of the year. after Christmas, When everyone went back to work the Christmas holidays, when I was on my own then the first couple of days was a bit hard... ..but you just pick yourself up. Felt a bit lost? You just get on with it. You can't do anything else, can you? When you think about brand names,