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Government ignorance of job losses contributes to exchequer deficit – Morgan

2 April, 2009


Speaking this afternoon as the latest exchequer figures were published highlighting a €3.72 billion shortfall on the Government’s first quarter target Sinn Féin Finance Spokesperson Arthur Morgan TD blamed the Government’s inaction on the jobs crisis for the figures which he described as shocking. He said the Government placed an over emphasis on supporting the banks with little or no attention to job retention and creation or support for SMEs.

He said, "Even though an exchequer deficit was to be expected the figures announced this afternoon have come as somewhat of a shock.

"Recent live register figures, including yesterday’s figures, have pointed to a deficit in exchequer returns however the Government still got their predictions wrong. This is not surprising given their recent record.

"Their concentration has been on the supporting the banks with little or no attention to job retention and creation or support for SMEs. The failure of the Government to deal with the jobs crisis has directly led us to the current exchequer shortfall and this economic mess.

"The Government cannot continue to ignore the jobs crisis. It cannot simply cut and tax its way back to economic recovery – it just isn’t going to happen. There must be a strategy from Government to retain existing jobs and create new ones.

"Sinn Féin has proposed a €2.3billion job retention and creation package which includes proposals to invest in critical public infrastructure in order to create jobs and attract investment.

"The Government must give these and other proposals due consideration but ultimately they must stop ignoring job losses and bring forward a plan to retain and create jobs along with next week’s emergency budget. This is the most pressing issue of the day and must be dealt with in the same manner as the budget." ENDS

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