OZschwitz slave pen: Sacrifices must be shared, says Rudd

KEVIN RUDD, saying there is no end in sight to the global economic downturn, has called on chief executives to join workers in exercising wage restraint.

In an interview with the Herald Mr Rudd also began preparing the ground for a multibillion-dollar infrastructure package to be delivered from next month by decrying the Howard-Costello years as Australia's "lost decade".

He singled out the former treasurer Peter Costello as especially negligent for failing to invest the proceeds of the mining boom.

The Prime Minister called for sacrifices to be shared equally: "We have to see those who are earning the largest, the multimillion salaries in this country evidencing a wider sense of responsibility."

Broadening his call beyond the financial sector, he said: "Wage moderation is important for the general economy and needs to be paralleled by those who run large corporations."

He said governments around the world would act on executive pay, by "calibrating" their responses "to how firms and their executives actually perform and behave".

The Federal Government would be particularly troubled by companies that "abuse" the downturn to gouge profits or to aggressively "slam the door" on their workers.

LNK

OZschwitz slave pen: Sacrifices must be shared, says Rudd

OZschwitz slave pen: Sacrifices must be shared, says Rudd

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