You should consult your union representative immediately and get him/her to moan to the national press at every available opportunity about how "unfair" this is. If that doesn't see your annual increments reinstated then i suggest you threaten strike action, say you will bring the country to it's knees to prove your point and ensure you get yours, fuck everyone else. I say lets bring down the government and burn the capitalisto pigs and their fat cat bed fellows UP THE PEOPLE, REVOLUTIOOOOOOOOOOONNNNNN!!!!!!
Oh wait, did you say private sector?
Good on you. I'm sure the cut hurts like a bitch but the company going under would be worse. The wise who take necessary measures now will reap the rewards when they are one of the few survivors left in their sector when we get to the other side. Good luck...... comrade