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Increase in unemployment figures a direct result of mismanagement of economy – Morgan

4 April, 2008


Sinn Féin Finance Spokesperson Arthur Morgan TD has said the increase by 12,000 in this month's live register figures are a direct result of the Government's mismanagement of the economy. Deputy Morgan said Fianna Fáil has failed to use the years of economic boom to guarantee Ireland's future prosperity.

He said, "Last year, ahead of the general election, Sinn Féin predicated our manifesto proposals on the basis that there would be an economic slowdown. We knew this would be the case as the previous two Fianna Fáil Governments had foolishly depended solely on the construction industry for our future economic viability.

"Contrast our position with that of Fianna Fáil and others who made outlandish promises to the electorate which could never have been kept. Fianna Fáil made a raft of desperate and irresponsible promises to the electorate, which included a plan to slash PRSI contributions. PRSI goes into a social insurance fund from which social welfare and pension payments are drawn. We pointed out at the time, the only party to do so, that these cuts would seriously impact on the state's ability to meet growing welfare and pension demands.

"The increase of 12,000 on this month's unemployment figures is a direct result of Fianna Fáil's mismanagement of the economy.

"As the construction industry continues to slow down measures must be put in place to re-train and re-skill workers to suit new and emerging industries. Investment must be forthcoming for small and medium sized business, indigenous businesses and industries and for research and development.

"If we are serious about becoming a knowledge based economy then it is essential that the current starvation of funds in the education sector is brought to an end. Education is the key to our future economy." ENDS

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