Updated at 3:55 p.m. with comments from governor, legislators

Calling $1.5 billion in proposed union concessions insufficient given Connecticut’s $5 billion budget crisis, Senate Republicans called Wednesday for legislators and Gov. Dannel P. Malloy to dramatically reshape labor laws to force larger savings in wages and benefits.

Senate Republican leader Len Fasano unveiled a plan to achieve nearly $2.2 billion in savings — with or without union consent.

But it would require officials to:

• Suspend or eliminate arbitration for unionized employees’ wages;
• Replace all overtime with compensatory time;
• Increase worker contributions toward retirement health care and require more service before guaranteeing this benefit;
• And triple all workers’ pension contributions in future years.