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Fine Gael proposal to cut employers’ PRSI will lead to slashed social welfare – Ó Snodaigh

18 November, 2009 - by Aengus Ó Snodaigh TD

Sinn Féin Social and Family Affairs Spokesperson Aengus Ó Snodaigh TD has strongly criticised a Fine Gael proposal to cut employers’ PRSI contributions describing it as irresponsible and misguided. He said, if implemented, the proposal will lead to social welfare being slashed.

Speaking today Deputy Ó Snodaigh said:

“Cutting employers’ PRSI contributions will result in less money going into the social insurance fund from which social welfare is paid. This will obviously lead to social welfare being slashed.

“The proposal from Fine Gael to cut employers’ PRSI contributions is both irresponsible and misguided. This is not the way to save jobs as ultimately it will lead to a further contraction of the economy as the spending power of the hundreds of thousand of people on social welfare is cut.

“What is required is package to both retain jobs and stimulate the economy. Sinn Féin has proposed a €600 million jobs retention fund to be paid for by a number of revenue raising measures including a tax on wealth and the introduction of a third tax band of 48% on income over €100,000.

“Sinn Féin has shown where money can be saved and raised to both close the public finance deficit and invest in our economy but without resorting to targeting social welfare of public services. This is the fairest approach to dealing with the economy.

“Those who seek to bring more economic pain on those who can ill afford it while not asking for a penny from the highest earners in the land should be ashamed of themselves.” ENDS

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