I don't know if there's a severe recruitment and retention crisis in other areas of the public sector?
There certainly are severe issues with retention and recruitment in some areas of the public sector. In such cases, the offer on the table will be better than a 12 month contract but the pay may well be extremely poor.
Can the government afford not to invest in education?
But what about other parts of education, such as higher education? What about dealing with huge issues that are increasingly affecting society - climate change, environmental issues, new sources of energy? What about the health service? What about investment into infrastructure, which is at the point of collapse in many parts of the country? And so on.
There is a strong case to make for almost all areas of public expenditure - most of the easy-to-cut stuff has long been removed. Either we pay more tax or we need to take some hard decisions. Slicing a little off every budget and maintaining roughly the same service can't keep on going indefinitely. In this sense I tend to agree with admission that schools have to look critically at their budgets and see what they are going to be able to afford by 2020, not just tinker with the status quo.
And schools are not the only ones who have to do this. I work in an area in which budgets are massively reducing and we have to take hard decisions about what to discontinue, even though the cuts will indeed lead to shortages of skilled workers, slower progress on measures to deal with climate change etc.