Recession an indictment of government’s continuing austerity policies
Sinn Fein finance spokesperson, Pearse Doherty TD, responding to the latest figures from the CSO which show the economy contracting in the first three months of the year, said the numbers were an indictment of government’s continuing austerity policies.
Deputy Doherty said:
“Three quarters of negative growth are an indictment of the government’s austerity economic policies.
“The figures today reveal a disturbing trend of decreasing personal consumption and declining exports. The reliance on export led growth at a time when our major export partners have slowed down is and always was dangerous, which is why Sinn Fein also called for a domestic stimulus to give the economy a lift. “We can't wait for the government to get their act together on a stimulus, they should have being doing it all along, and there can be no excuse for dragging their heels now.
“There is a home grown solution to the government to deal with the personal consumption crisis. In its last two budgets it has pursued austerity policies which have crippled the domestic economy, as these figures show.
“The government plans to continue with these policies and to take €3.1 billion from the economy in October’s budget, much of which will be loaded on to those who can contribute most to our economy if they are allowed to do so.
“I’m calling on the government to admit its austerity policies have failed and make a budget adjustment this year that is fair to citizens and won’t damage the economy any further.”