Fiscal attachment to Britain needs reassessed - Murphy
Sinn Féin MP Conor Murphy is calling for maximum fiscal powers to be transferred from London to Belfast.
Conor Murphy MP said:
“Sinn Féin reiterates our call for maximum fiscal powers to be transferred from Britain to the Assembly and urge other Parties to reassess their positions on fiscal autonomy.
“GDP figures released yesterday confirm that the British economy is stuck in a rut and economic performance over the last 18 months clearly shows that austerity does not work.
“But for a minimal 0.3% growth in GDP the British economy would have fallen into a triple dip recession. Its Office of National Statistics stated clearly in its release of figures yesterday that the British Economy has been broadly flat for the last 18 months.
“A healthy economy is expected to grow by around 12% over any five-year period. The fact that Britain’s has contracted by 2.6% in reality means that potential output of almost 15% has been lost to the economy. A major indictment of British economic policy and its dogged adherence to austerity measures which are only prolonging the harsh conditions that a majority of the population have to endure.
“These policies, over which not only do we have no control but don’t even have any input into their formulation, are stifling our economy. It is obvious that we cannot depend on British fiscal policy to deliver economic recovery as no British government acts in our best interests.
“Our fiscal attachment to Britain is detrimental to our efforts to rebuild our economy and get people back to work. Our future is in taking possession of the tools required to devise and implement fiscal policies to match the needs of our people. It is in concentrating on building a strong sustainable all-Ireland economy that while welcoming foreign direct investment will allow indigenous business to flourish and access export markets independent of Britain’s selfish economic interests.
“Enterprise Minister, Arlene Foster in the Assembly this week, reiterated the sentiment expressed by Peter Robinson on the British government’s refusal to transfer corporation tax powers to the Assembly - that the message being sent to the Scottish people is ‘if you want fiscal control, go for Independence’.
“I am calling on other political parties in the North to follow the logic of these sentiments expressed by Peter Robinson and Arlene Foster by demanding maximum fiscal powers for the north. This would allow for development of a full and detailed strategy for economic recovery across the island of Ireland." CRÍOCH