While union members may be rejoicing over the recent bailout by government of the BIU’s performance bond they should note that government isn’t who should be thanked, instead it is non-BIU workers because they’re truly the ones footing the bill.
The BIU’s bailout of a requirement to pay their performance bond on the failed Berkeley project isn’t free money, it comes from government coffers, coffers ultimately filled by taxes. Broken down in its simplest form government taxes are collected from workers. Workers are either part of the BIU or not with those in the latter category comprising blue and white collar as well as expatriate workers. It is these workers the BIU has to thank for helping foot the bill for their mistakes.
The ruling political party may be quick to claim the credit for ‘saving the BIU’ and use this as an opportunity to buy votes but ultimately this action is little more than shifting a debt from one group of workers to all workers. This action is grossly unfair for those workers who had no say in the BIU taking on this risk but have been looped in when it comes to paying the consequences. The BIU have surely bought themselves a one way ticket to zero non-union support in future disputes.