Re: The principle makes economic sense to me...
Fully agree the idea of a wage-level base, rather than a lottery makes sense, but I would say a points based system is even better, where the industries most in need get their higher paid staff first....
however the 30-50% premium to market rates is steep, an 10-15% would be appropriate (i.e. you tried paying above market, but still couldnt recruit, so will pay JF that much)