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Concerns voiced at Investment plans' small print

15 December, 2005


Sinn Féin economy Spokesperson, Mitchel McLaughlin MLA has said that while there is much to be welcomed about the £16 billion 10-year Investment Strategy announced today he also warned that there was a huge over dependence on privatisation, private finance through PPPs and PFI and so-called "efficiency" savings.

Mr McLaughlin said:

"There is much to be welcomed in this £16 billion 10-year Investment Strategy. However, Sinn Fein have a number of serious reservations.

"The British government have yet again missed the opportunity to deliver a genuine peace dividend and have again failed to create the proper linkages with the Irish government‚s Development Plan in the South and thereby deliver economies of scale, better integration of services and greater value for money.

"There is also a huge over dependence on privatisation, private finance through PPPs and PFI and so-called 'efficiency' savings. There is no evidence that any of these will deliver the promised benefits. Indeed there is growing evidence to suggest that this approach has been a disaster with services being undermined and costs spiralling out of control.

"Sinn Féin will be looking at the details of this very closely. It is essential that this strategy supports balanced regional development and comes up to the mark in meeting equality commitments." ENDS

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