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Government budget talks jobs but delivers recession

6 December, 2011

Sinn Féin, spokesperson for Jobs, Enterprise and Innovation, Peadar Tóibín TD, described the budget as a body blow to the unemployed, to our local businesses and to our economy.
Speaking in Leinster House today Deputy Tóibín said:
“Today Michael Noonan said he wanted to stimulate growth and create jobs. This government is living in denial if it believes that taking money out of the economy, cutting capital spend and increasing costs will lead to growth or employment. The government may fool itself but it will not fool the people.
“The budget is a severe economic body blow to the unemployed, to our local businesses and to our economy,” he said.
“This budget will take €3.7 billion out of the economy and the government has confirmed that a further €3.1 billion will be paid out on the Anglo promissory note next year.
“Today the government reduced stamp duty on commercial property transactions and failed to act on upward only rents which are crippling the retail sector. The outcome of this policy will reward landlords, fail tenants and continue to cost the public purse.
“This lack of movement on upward only rents and the increase in VAT will further undermine employment in the retail sector and within our local businesses.
“We have outlined costed alternatives, in line with international best practice, that would stimulate growth, create employment and tackle the deficit. Only through growth can we break the cycle of austerity and recession and unemployment. These choices will require leadership and courage.
“The government has failed to rise to this challenge. It will not be ministers, senior civil servants and special advisors that will feel the immediate impact; it will be our small businesses, our workers and those on benefits.”

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