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Government policy intensifying Two Tier nature of the economy – Peadar Tóibín TD

14 March, 2014

Peadar Tóibín TD, Sinn Féin Spokesperson on Jobs, Enterprise and Innovation has today said that government policy was radically intensifying the nature of the two tier economy in this state.

Commenting after the government published figures in response to his Parliamentary Question, Deputy Tóibín said:

“During 2013 seventy eight new investments were brought to this state by the IDA. By far the greatest numbers of investments were for Dublin with 55. That’s 70% of all new IDA business going to 25% of the population.

“Meanwhile 14 counties received no new IDA investment last year at all and 8 others received only 1 new investment. Most of these forgotten counties are in the Border, Midland and West regions and are suffering from high unemployment, emigration, poverty and depopulation’.

“It is shocking also to note that in response to another parliamentary question that I submitted, the Minister for Enterprise stated that in the past five years, Enterprise Ireland investment in jobs has gone from €167.28m in 2010 to €68.84 in 2013.

“In the same period, IDA investment has gone from €120.44m to €84.95m. There are two important points arising from these numbers.

“Firstly in a time of unprecedented unemployment crisis, investment in job creation by this government has collapsed.

“Secondly government policy has switched priority from investment in indigenous job creation through Enterprise Ireland which is more sustainable and has a better regional distribution to FDI.

“Any job created is welcome but this government is failing badly in its responsibility to develop in a balanced manner. Governments in the past created medi-tec clusters in the west, pharma clusters in the south and finance clusters in disused docks.

"Policy and resources can direct development. As this problem continues we see increased pressure on prices and services in Dublin and the depopulation of people and services from the rest of the country.

“The Minister for Enterprise must remember that he is the Minister for the other 25 counties too’.

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