Y'all may have read an article on P21 Inquirer of (this) Weekend(s) Australian - from the Murdock stable. The article I refer to was compiled by Washington correspondent Adam Creighton. An interesting read indeed, it deals with the present level of remuneration for Australias' top Pubic Savants: referred to (in article) as "Mandarins" a term originating from China but first thought to be used by the Portuguese to describe 'commanding presence'; or something to this effect, anyway I digress, enough of the history lesson.

Crieghton - "The 18 department heads in Canberra earn between $731K and $862K p.a." The article goes on to explain - "The most recent survey of top bureaucrats, taken in 2011 before the latest round of hikes, showed Australias mandarins were already the third best paid among 26 countries, behind Italy and New Zealand."

You don't need me to tell you that things have changed a good deal in the interim to date. Creighton further opined that the rot (my words) may have set in about 2010 when the Remuneration Tribunal made recommendations based on the Governor of the Reserve Banks' pay which, (had been hiked) "to more than $1M in the 2009 financial year, a 76% increase over the 2005 level." Interestingly the then RBA Guvner Glenn Stevens' American counterpart, Janet Yellands pay was $261K.

Creightons article continues in this vein to suggest that - "Top bureaucrats' pay should be the focus of reform. The Czech Republic and Ireland cut their public sector wages by 10% and 14% after the financial crisis. Britain cut by 5%."

So here we are, with the Govt about to reconvene the next instalment of another sitting with both the PM and his Treasurer calling for restraint. The poor RBA Guvner has already obliged and will beat a hasty retreat - I feel for the man. I'd be very interested to hear whether just a few of his colleagues would themselves be equally prepared to show some ignominious restraint.

When we consider the bulk of the Future Fund will guarantee an exceptionally comfortable retirement for the 'pubes', why shouldn't those folk - living the dream on an age pension - embrace the idea of restraint.