The firm I work for has PAYE guys on that, and less, as a base rate. But the thing is that almost everyone on PAYE gets a certain amount of price work
Despite the cards in guys earning less than the subs they still keep quite a few of us subs working for them. Why? Because the subs are generally lot more experienced and generally come with their own (better) tool kit. For the PAYE guys the firm has to hire in or buy and maintain kit (tools) for their own guys, pay their statutory and bank holidays, pay their sick pay, pay for their PPE, pay for their training, pay employers NI, insure them, etc, etc. So in real terms they aren't much if any cheaper than the subs - and unlike the subs, if they are laid off or made redundant there is an on-cost to the firm.
So if Pongo thinks he's going to pay the flat wage to someone who is any good at the job, maybe he should think again.