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Government must provide more details on stimulus plan – Tóibín

29 September, 2011

Sinn Féin Spokesperson on Enterprise, Jobs and Innovation Peadar Tóibín has welcomed the government’s proposed strategic investment fund but has called for more detail to be made available.

Deputy Tóibín said:

“I welcome the fact that the Government seem to be finally adopting Sinn Féin's long argued position of using money from the NPRF top invest in job creation.

“It’s shocking however that this Government took €16.4bn from the NPRF in July and gave it to the banks and now there is only €5bn left for investment in jobs.

“Sinn Féin wants to know how this money will be used. Projects such as the installation of water meters will not lead to long term competitiveness and will drain the economy of money. We need investment in labour intensive infrastructure projects that will produce social and economic dividends i.e. public transport, broadband, schools etc. We need targeted investment for small and medium sized enterprises to help retain and create jobs. Government should also be actively pursuing matching funding from the European Investment Bank for these projects.

“During the election Fine Gael and Labour promised to get Ireland back to work. Seven months on and we still have almost half a million people on the dole queues. Almost 30,000 people have emigrated. We are in the midst of a jobs crisis. Announcements like this are all well and good but we need more than announcements – we need action.”

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