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Plans to cut PRSI must be reversed in face of increasing unemployment – Morgan

28 May, 2008

Sinn Féin Enterprise, Trade and Employment Spokesperson Arthur Morgan TD said today that plans to cut PRSI must be reversed by the Government in the face of growing unemployment. Morgan said that the latest figures from the Department of Enterprise, Trade and Employment, which revealed a startling rise in redundancies, show how much pressure the Social Insurance Fund is under.

Morgan said:

"The latest figures from the Department of Enterprise, Trade and Employment show that the total number of redundancies for the three months to the end of March 2008 was 7,968 an increase of 21.1% on the same period in 2007.

"Unemployment Benefit is drawn from the Social Insurance Fund and it is apparent that as redundancy figures rise, so will the pressure on this fund. Despite being warned this would happen, the Government decided to make a promise to the electorate in its Programme for Government to cut PRSI.

"The Government must accept now that this was an empty promise and cannot go ahead. The Social Insurance Fund must be strong enough to deal with growing unemployment and other welfare demands.

"I am calling on the Government to admit it was wrong to make this promise, to reverse it and to make sure that there is a large investment in training and education to help those being made redundant to skill themselves for alternative employment." ENDS

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