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Summer Economic Statement shows Fianna Fáil and Fine Gael folly and recklessness - Cullinane

12 July, 2017 - by David Cullinane TD

Sinn Fein spokesperson for Public Expenditure and Reform David Cullinane TD has said today that the Summer Economic Statement shows up once again the folly and recklessness of Fianna Fail and Fine Gael.

Deputy Cullinane said:

"The Minister's big announcement is of €1.5bn in additional capital spending that won't even happen next year. It is not in the fiscal space for 2018. It won't be in the budget in October.

"Such is the mess-up between the Government and Fianna Fail's supply and confidence arrangement that Minister Donohoe has to engage in time travel to beef up his press release.

"And hot on the heels on their climb-down from the abolition of the USC charge, the Government has now conceded that there is a huge need for capital investment.

"Sinn Féin had capital investment front and centre of its budget proposals last year so once again we have Minister Donohoe playing at catch-up.

"Yet even here, the Minister is crying crocodile tears over capital expenditure.

"The last rainy day fund was spent not on the people, but the banks and developers.

"The €500m a year that the Government is putting into the next bailout fund for bankers and developers would be better spent on tackling the trolley and housing crises.

"Yet Minister Donohoe is happy to let €500m sit in a bank account literally doing nothing than put those funds to work.

"That is absolutely disgraceful behaviour form the Minister and from Fianna Fail who insisted on parking much-needed funds into the next developer bailout fund.

"Fianna Fáil have no credibility here.

"They want tax cuts and investment and a rainy day fund, all from a fiscal space they reduced last year with a reckless and ill-thought out budget.

"There is no provision in the government's plans to address equal pay for equal work, the one burning issue that was actually driving industrial unrest last year.

"Instead, Minister Donohoe is going to give a 6 percent pay rise to the highest paid public sector employees and nothing to end the abhorrent two-tier pay system that's already in place.

"Public services, investment, and retention: these are the issues that must be addressed going forward.

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