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Rainy Day Fund will normalise housing and health crises for foreseeable future – Pearse Doherty TD

6 June, 2018 - by Pearse Doherty TD

Sinn Féin Finance spokesperson, Pearse Doherty TD, has today accused Fine Gael and Fianna Fáil of choosing to normalise mass homelessness, chaos in the health service, and financial instability for the foreseeable future.

Teachta Doherty was referring to policy proposals from Fine Gael and Fianna Fáil to establish a ‘Rainy Day Fund’ with an investment of €500million each year taken from the available fiscal space.

The Donegal TD said:

“Not only have Fine Gael, supported by Fianna Fáil, presided over an unprecedented homelessness and health crises, both parties now claim that relieving pressure in housing will threaten our economy.

“In effect, the proposal to establish a rainy day fund seeks to normalise what is becoming permanent homelessness for thousands of Irish citizens, alongside chaos in the health service.

“For this coming budget, and for three in a row, the Fianna Fáil and Fine Gael are actually going to tell people on hospital trolleys and in emergency accommodation, that they are sorry but, while they have money to spend, they need to save it in case of a crisis.

“It should also be remembered that the last time we had a financial crisis Fianna Fáil, aided by Fine Gael, pumped the Pension Reserve Fund into the banks rather than investing in our economy. 

"So does anybody really believe that these party’s can be trusted with a Rainy Day Fund now?

“It seems to me and to citizens all across the country that the biggest threats to stable growth and adequate living standards in Ireland are Fine Gael and Fianna Fáil.

“Sinn Féin rejects the farce that financial prudence means sitting idly by as social crises spiral out of control, undermining our economic potential and security. 

"Our comprehensive fiscal strategy will tackle these threats at source, while safeguarding our public finances in the long run.

“Within the fiscal rules we will invest to bring the housing and health crises to an end, and reduce the threat of overheating. 

"Furthermore, our proposals to broaden and strengthen our tax base stabilises our public finances and protects against international shocks."

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