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Dept of Finance Propose increasing Income Inequality – Peadar Tóibín TD

14 May, 2015

Sinn Féin’s Peadar Tóibín has described a submission by the Department of Finance to the Low Pay Commission on the minimum wage as limited in both analysis and understanding of the dynamics of the economy.

The Sinn Féin Jobs Spokesperson said:

“It is shocking that the Department of Finance appears not to have dealt with the high levels of economic and income inequality in Ireland, some of which is attributed to the reality that a high level of low pay is now entrenched in the labour force.

“High levels of low paid insecure work are holding back the potential of Ireland’s recovery and any reduction to the minimum wage would deepen this problem and create structural challenges in the economy that would be devastating. 

“Whilst the submission as detailed in the today’s media acknowledges that regional imbalance of new job creation and investment, the suggestion that the current minimum wage is a factor in this or indeed any future increase is flawed analysis.

“Labour and Fine Gael in government have savaged capital expenditure; have failed to deliver on their Action Plan for Jobs commitments to the regions, have not delivered on their Youth Guarantee commitments, have frustrated LEADER funds delivery and even now are removing local procurement from local authorities taking even more monies out of the local economy.

“Sinn Féin will fight tooth and nail against any reduction in the minimum wage and want in fact to see an increase as just one strand in tackling income and economic inequality in Ireland.” 

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