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People will not recognise the economy Minister Noonan is talking about

16 May, 2012 - by Pearse Doherty TD


Sinn Fein Finance spokesperson Pearse Doherty, responding to Minister for Finance Minister Michael Noonan has said that: “Most people listening to Michael Noonan today will not recognise the economy he is talking about.” Deputy Doherty also said that the Austerity Treaty would make ordinary people’s lives much harder “because it will result in even harsher levels of austerity after 2015.” The comments were made in response to the Minister’s comments at the Bloomberg Ireland Economic Summit.
Deputy Doherty said:
"While the Minister may selectively use figures to claim that the economy is improving he cannot deny the CSO figures that show GDP declined during the last two quarters of 2011. On the basis of these figures the economy is now officially back in recession.
“More importantly the reality for the vast majority of people is that things are not getting better and in many cases are getting worse.
“There are 440,000 people are on the live register, 1,500 people are emigrating every week, 91 families are falling into mortgage distress every day. Five austerity budgets have seen peoples living standards fall dramatically. Tax increases and stealth charges are pushing families into further financial stress. Poverty and child poverty rates are on the rise and income inequality in increasing.
“Most people listening to Michael Noonan today will not recognise the economy he is talking about. For them every day is a struggle to make ends meet. What they want to know is what the Government is going to do to create jobs, stem the tide of emigration, tackle the mortgage crisis and help hard pressed families
“The Minister is telling people that the Governments strategy is working and that on May 31st they should support the Austerity Treaty. Yet most people know, from their own lived experience that austerity is not working, it is not making their lives any better and that the Austerity Treaty will only make things harder in the future.
“The people of this country need investment in jobs and growth not spin and scaremongering. Minister Noonan would do well to talk to the real people in our economy before he claims that we have turned a corner.” ENDS

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