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Sinn Féin is providing a better, fairer way to economic recovery – Adams

1 November, 2010 - by Pat Sheehan, Westminster


Speaking at the launch of Sinn Féin’s budget proposals today Party President Gerry Adams said Sinn Féin is providing a better, fairer way to deliver economic recovery.

Sinn Féin is proposing a €7 billion stimulus package to create jobs, alongside a plan to reduce the deficit over a more realistic six year timeframe while protecting low and middle income earners.

Mr. Adams said:

“Today Sinn Féin is setting out a detailed, fully costed pre-budget submission. In our economic plan for recovery Sinn Fein is proposing:

· A €7.6 billion package spread over 3.5 years to stimulate the economy – there can be no recovery without economic growth and getting Ireland back to work
· A six-year plan to reduce the deficit to within the Stablility and Growth Pact.
· We have identified over €1 billion in wasteful spending and over €4 billion through making the tax system fairer. Our tax and savings proposals are targeted at wealth in the state – they do not tax lower and middle income earners or cut spending from vulnerable and essential services.

“Sinn Féin’s proposals are a credible alternative to the cosy consensus for cuts which has put our economy in such crisis. This is about political choices. The government has made a political choice to go after people on social welfare and to cut €1billion from health care. We are setting out different political choices. Political choices based on growing the economy, cutting waste and fair taxation. Political choices based on creating jobs and protecting people who are vulnerable including those who are economically vulnerable – people on low and medium incomes.

“Fianna Fáil and the Green Party have brought the state close to economic ruin. They have introduced four successive budgets, as well as emergency measures in February 2009, which are all about cuts. This hasn’t worked. If cuts worked, the economy wouldn’t be in the state it is in now:

· 450,000 people are now out of work
· 100,000 more will have emigrated by next year
· Tax revenues have collapsed and there is a spiralling deficit
· The interest rates being paid by the Irish government on the international bond market are three times those paid by Germany.

“2014 is an entirely arbitrary timeframe and doesn’t include the recapitalisation plan for the banks of an estimated €40 billion borrowing for NAMA. This amounts to €11,000 for every man, woman and child in the state.

“The 3% target cannot be met by 2014. The Government is planning to take too much money out of the economy in too short a time frame and from the wrong places. It is not providing enough of a stimulus to ensure that the economy grows. Added to the above is the absence of any future vision for the development of the economy and more importantly society.

“The government is supported in this overall approach by Fine Gael and Labour just as they were in the Lisbon referendum in 2009 and in the General Election in 2007 when they all promised even more tax cuts. I would call on all of the other parties to produce fully costed proposals.

“Sinn Féin is making a stand for working families the length and breadth of the country. And on 4th December we are calling on people to join us in a major mobilisation in Dublin in advance of the Budget. It is time for the people to make a stand.” ENDS

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