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Eircom job losses a lesson in the ideology of privatisation: Toibín

31 October, 2012 - by Peadar Tóibín TD


Sinn Féin spokesperson on Jobs and Innovation, Peadar Toibín TD, has expressed his deep disappointment at the news of 2,000 job losses at Eircom, double what was originally signalled.

“The announcement is a body blow to the already damaged economy. The company is calling these further redundancies a ‘cost-saving measure’ but in fact it is another costly lesson in how this state’s core infrastructure has been damaged by the ideology of privatization.

Eircom is a wakeup call to a government on the verge of a state asset sell off. Many of the 500,000 small investors who initially bought shares suffered significant financial loss at the time. Eircom has since experienced substantial decrease in market penetration, defaulted on debts in February and has left Ireland with one of the weakest broadband systems in Europe.

These job losses are symptom of a domestic economy collapsing under the weight FG/Labour austerity. The government needs to invest in growth and jobs and reform the credit and cost competitive disadvantages which are suffocating the Irish economy.

“Politics is about political choices and in our Jobs Plan Sinn Féin has produced a fully costed, detailed plan that provides a socially responsible way to reduce the budget deficit while creating and retaining jobs, including in developing state infrastructure. It calls for an investment of €13 billion into job creation and retention. Such investment is now urgent.

 

p callagЈ8P on the verge of a state asset sell off. Many of the 500,000 small investors who initially bought shares suffered significant financial loss at the time. Eircom has since experienced substantial decrease in market penetration, defaulted on debts in February and has left Ireland with one of the weakest broadband systems in Europe.

These job losses are symptom of a domestic economy collapsing under the weight FG/Labour austerity. The government needs to invest in growth and jobs and reform the credit and cost competitive disadvantages which are suffocating the Irish economy.

“Politics is about political choices and in our Jobs Plan Sinn Féin has produced a fully costed, detailed plan that provides a socially responsible way to reduce the budget deficit while creating and retaining jobs, including in developing state infrastructure. It calls for an investment of €13 billion into job creation and retention. Such investment is now urgent.

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