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Economic strategy requires investment in Public Services - Carthy

3 November, 2015 - by Matt Carthy MEP


Considering revelations that Ireland is one of the lowest spenders on public investment among developed economies; Sinn Féin MEP Matt Carthy has called for an overhaul of investment in public services and an end to the crippling austerity measures.


The Midlands North West MEP said,


"It has now been confirmed from several sources what Sinn Féin has been arguing for the last four years; that the share of our income expenditure on public services such as welfare, health and education is grossly inadequate.


"In 2016, Ireland will spend one of the smallest shares of national income on public services of any developed economy. Yet we have families sleeping rough on the streets of Dublin, chaos in our hospitals and yet multi-national companies are facilitated in mass tax avoidance.

"The Central Bank report 'The macroeconomic acts of the Euro Areas fiscal consolidation’ has reaffirmed that the long term economic effects of austerity have been under estimated.

“It could not be any clearer: there is a requirement for a new economic paradigm if we wish to have an economy which serves the people.  Above all there is a need for emphasis on public investment as opposed to the boom and bust economics which has created the financial mess we are in."

ENDS



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