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Sound Bite Economics, will not Produce One Penny for Public Services or Stimulate the Economy

8 March, 2011

Sinn Fein Economy spokesperson Mitchel McLaughlin, commenting on SDLP statement of intent to vote against the Executive Budget, has said:

“The SDLP have failed once again to produce an alternative costed Budget to replace the fully costed Executive Budget they are set to vote against.

“Sound bite economics will not produce one penny for public services or stimulate the economy

“The SDLP amendment, at this eleventh hour, is cynical soundbite politics designed to put narrow party politics above the needs of all in our community. “

“What was required from the SDLP and the UUP was a credible alternative to the Executive Budget, which they have thus far failed to produce.

“The SDLP or the UUP have not put forward one single proposal to the Executive group dealing with the Budget.”

“Sinn Féin set out our opposition to Tory Cuts and more importantly our alternative to them by identifying ways to promote economic growth and deliver public services in our economic paper released in October 2010.

“That paper identified potential savings and revenue raising mechanism which would release £1.6 billion of additional money to the public sector.

“Despite repeated calls by other parties including the SDLP to set a budget based solely on Tory cuts we consistently advocated the need for additional revenue to be added to the Block Grant.

“We have been successful in that task.

“As a direct result of Sinn Féin’s work and working together with parties willing to engage, the Executive Budget has now an additional £1.5 Billion .

“The SDLP and UUP are set to vote against a budget that includes an additional £1.5 Billion for Health, Education, Housing, and the Economy.”

“Not one penny has been produced by those parties shouting from the sidelines.

Concluding Mr Mc Laughlin said:

“The SDLP and the UUP position does not stand up to scrutiny. The amendment tabled to the Budget is too little to late. The only financial commitment made by the proposer’s is to take £80m off the most disadvantaged in society.

“Attacking the disadvantaged is not opposing Tory cuts, it is implementing Tory policy. ENDS

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