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Government focussed on a bank with no prospects as unemployment soars to 455,000 – Morgan

1 September, 2010

Speaking today after the release of the seasonally adjusted Live Register figures for August showed an increase of 2,500 people, Sinn Féin Spokesperson for Enterprise, Trade and Innovation Arthur Morgan said this Government is more willing to create a culture of welfare dependency and emigration rather than investing in retaining and creating the jobs.

“There are now 455,000 people on the live register, bringing the standardised unemployment rate to 13.8%. As these figures hurdle towards half a million, this Governments focus remains on the future of a bank with no prospects but ignorant of the future of people with endless prospects.

“In the coming weeks, thousands of students will be entering colleges and universities of this State to further their education, develop their skills and foster the knowledge that can lead Ireland out of economic stagnation. These institutions are incubating the Smart economy but this Government is failing to deliver on the conditions that will allow its realisation through the delivery of jobs.

“The ranks of the unemployed have swelled enormously, but this Government has done nothing. More young people than ever are graduating into an economy that does not have sufficient work for them, leaving them with little choice but to emigrate or to stagnate on welfare payments.

“The Fianna Fáil Smart Economy is one where zombie banks are on a life-support of continuous taxpayer’s money, where developers are able to re-coup their losses from making reckless investments in construction, where corrupt banking executives are able to retire with a near €30 million pension package, while at the same time young people are thrust into unemployment, where their skills are lost and where emigration is rampant.

“Not only do we need measures to tackle unemployment head on, as my party has put forward, but we need to realise a Smart Economy is one where Fianna Fáil and their cohort of banker and developer friends are not at the helm.

“This Government is more willing to create a culture of welfare dependency and emigration rather than investing in retaining and creating the jobs that will give people self-fulfilment, purpose and that will enable them to take their place in Ireland’s recovery. The Government are indifferent to unemployment and ignorant of the solutions.

“There are alternatives, there are solutions and Sinn Féin has been championing these at every opportunity. Without a clear economic recovery plan aimed at creating entry-level jobs unemployment will become a permanent landscape, which will blight future economic growth.

“This Government needs to take a hard look at the ‘smart economy’ that they are creating and realise that exporting a generation of educated, skilled and qualified people is detrimental.” ENDS

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