ESRI Report confirms the need to prioritise Public Investment over unsustainable tax cuts - Jonathan O'Brien TD
Sinn Féin spokesperson for Public Expenditure and Reform, Jonathan O’Brien TD, has today warned that much needed public investment cannot be sacrificed on the altar of unsustainable tax cuts by Fine Gael and their partners in Fianna Fáil.
The TD for Cork North Central was speaking after the publication of the ESRI’s Quarterly Economic Commentary.
Teachta O’Brien said;
“The recent report by the ESRI reveals the choice that must be made in the upcoming Budget for Fine Gael and their partners in Fianna Fáil.
“In its Quarterly Economic Commentary the ESRI noted that while an ambitious programme of capital investment is required to redress over a decade of infrastructural neglect, this cannot be done while simultaneously reducing the tax base without compromising the public finances.
“Amidst emergencies in homelessness, housing crises and unprecedented dysfunction in our hospitals, the Irish public are all too aware of this need for investment.
“While Sinn Féin has articulated our commitment to an ambitious and far reaching plan of public investment that respects the integrity of the public finances, Fine Gael and Fianna Fáil must make a choice.
“While Fine Gael had previously promised to abolish the USC only to realise the fantasy of their own policy, Fianna Fáil have promised to return to the McCreevy economics of old by cutting the tax base, increasing spending and diverting over half a billion of public money annually towards an ill-defined contingency-reserve fund.
"These commitments are both incredible and incoherent.
“Sinn Féin is committed to public investment through a sustainable fiscal policy. Fine Gael and Fianna Fáil need to face economic reality or admit their policies are unfit to solve the problems of today.”