Asking public servants to give up 50 % of their salary is starting a dangerous war where no one can really win.
Right now you have police officers, firefighters, nurses etc working on the frontline.
You have teachers adjusting to possibly the biggest challenge of their careers.

Despite what the Prime Minister says, giving bonds instead of the actual cash salary basically boils down to a pay cut for most. Can you take your bonds to Massy to buy groceries? These bonds are due in a year. Can you tell your landlord, Courts etc you will pay them in a year?

How do the interest rates on these bonds compare to inflation over time? How much money will you really get in a year once that’s factored in?
What happens if in a year the government can’t make good on those bonds? Especially given the economic situation locally & globally.

Also, if things get really tough (which they most certainly could) people might seek to sell these bonds to businesses. In these uncertain times they could end up getting way less than the value & be at a loss, compared to the 50 % value of their salary that they’re giving up now