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Jobs initiative a far cry from Fine Gael and Labour’s election promises – Reilly

8 June, 2011


Speaking in the Seanad today Sinn Féin Senator Kathryn Reilly said the Government’s Jobs Initiative is a far cry from the promises of Fine Gael and the Labour Party in the recent general election.

Senator Reilly said the additional €40 million of additional spend in the jobs initiative stands in stark contrast to the €200 million senior unsecured bonds paid by Anglo Irish Bank less than two weeks ago which will see investors who bought the bonds back in December make gains of as much as 13%.

Senator Reilly said:

“The jobs initiative was, in the words of Taoiseach Enda Kenny, a down payment on commitments made in the programme for government. But it was obvious that the people of this State were short-changed.

“It is a far cry from the election promises of both Fine Gael and the Labour Party from which this Government secured its ‘secure and stable mandate’.

“Last week the Taoiseach identified the greatest resource of our nation was our people. He was right to say that it will be the Irish people who will build this economy. Yet the policies of this government and the last are forcing our greatest asset, our young people onto planes for England, Australia and America.

“We need investment proportionate to the scale of economic crisis we face. Instead of investing in our economy to increase competitiveness billions are spent on failing banks and servicing unsustainable debt.

“The meagre additional €40 million of additional spend to this jobs initiative stands in stark contrast to the €200 million senior unsecured bonds paid by Anglo Irish Bank less than two weeks ago which will see investors who bought the bonds back in December make gains of as much as 13%.

“So much for Albert Einstein’s ‘Learn from yesterday, live for today, hope for tomorrow.’

“The starting point for a responsible plan is to properly invest in job creation, with growth as our priority and we must remain vigilant against a downturn caused by crippling austerity measures.

“The Statement of Common Purpose of this government quotes Albert Einstein.

“It doesn’t take an Einstein to recognise that this plan has failed to learn from the past; will not provide for the unemployed of today; and falls well short of providing economic growth and hope for the future.” ENDS

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