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Government preparing to wield the axe harder than ever – Morgan

4 November, 2010

Speaking today after a briefing with the Minister for Finance on the Government’s planned fiscal adjustment of €6 billion for 2011, Sinn Féin Spokesperson on Finance Arthur Morgan said four successive budgets of cuts to public spending have shown that austerity has failed.

“The Government has unveiled a plan to cut spending, not a plan to cut the deficit. If spending cuts could fix the problem, the problem would be fixed by now.

“This Government has failed and it has failed utterly. The cause for these inflated figures is the Government’s approach itself. Our arrival at this point is a direct consequence of the Government’s incompetence. Cutting the economy to death will not make it grow.

“Last year we were told a €7.5 billion adjustment would be made in the economy up to 2014, now it will be €15billion. We were told €3billion would be taken out in 2011, now we are told it will be €6 billion.

“The medicine prescribed by the Government to fix the economy is that which is killing it.

“Sinn Féin has produced an alternative to this. We have shown that the deficit can be reduced, without castrating public services. The orthodoxy of austerity has failed. Four successive budgets of massive cuts to public spending have proved this.” ENDS

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