They would all represent, implicitly at least, anincrement to the national debt (at least in an economic sense, if not in a strict public-accounting sense).
But teachers' unions have been hostile to the changes proposed by the government, arguing that the expectation of an annual increment, in place since the 1920s, provided an incentive to recruit graduates into teaching.
To deviate from the structure of the market portfolio was assumed to involve assuming an extra increment of risk for no matching incremental improvement in reward.
They will struggle to understand what possible moral or economic logic could have permitted an 11 times increment in executive compensation, when corporate performance was in such steep decline.