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IMF lauds economic growth despite mounting evidence of two tier recovery - Lynn Boylan MEP

26 March, 2015 - by Lynn Boylan MEP


Dublin Sinn Féin MEP Lynn Boylan has commented on the latest IMF report on the Irish economy which states that it is, “starting to fire on all cylinders”.

Speaking today from Brussels Ms. Boylan said:

“This report is further evidence that this government is presiding over a two tier recovery. How can healthy economic growth co-exist with high unemployment and growing mortgage arrears?

Healthy economic growth may be the reality for a select few, while the nightmare of high unemployment, especially among young people, widespread mortgage arrears and a deepening rental crisis is part of the daily existence for many.

Worryingly the report illustrates that the average household has debt worth 177% of its annual income, which is high by international standards.

This demonstrates to me that a lot of Irish citizens are struggling to get by on low pay, they are under employed and struggling to pay property taxes, while water bills loom.

House prices are booming, rising at 16% per year, according to the report. Which is followed up with ominous line, “as fast as during the boom".

Which begs the question, have any lessons been learnt from Ireland’s boom and bust saga?

The time has come for the people of Ireland to make a change. That change can be Sinn Féin who stand for a fair recovery that will leave nobody behind."

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