58,967 reasons why government’s austerity policies have failed – Kelly

There are 58,967 reasons why the government’s austerity policies have failed the south east according to Sinn Féin Cllr Anthony Kelly. The Wexford Councillor, referring to the latest CSO survey which reveals that there are 58,967 people on the live register in the south east, criticised the Fine Gael and Labour government for introducing failed policies that were entirely inadequate with dealing with the mass unemployment epidemic which we are faced with.

“How many times has this government said that job creation was its number one priority?” Cllr Kelly asked, “Yet, fifteen months after entering power and despite mass emigration in the meantime, the unemployment rate is now creeping towards the 15% mark. In the south east there are 58,967 people on the live register.”

“Nationally we now have over 200,000 people who are long term unemployed. Fine Gaels promised mass job creation plan has not come about and it is clear that it cannot come about as long as they pursue the failed policies of austerity. The government must reject austerity and come forward with a credible jobs plan which can be put into effect immediately.”

“Sinn Féin has consistently argued that the only way out of this recession is through stimulus. We have proposed a €7 billion investment package in job creation over three years. Estimates from the Department of Finance and the Construction Industry Federation put the creation of 8,000 to 12,000 jobs for every €1 billion invested. This would mean our investment would see an average of 60,000 jobs created directly, with thousands more indirectly, not to mention the thousands of jobs that will be saved by the stabilisation of the economy and the injection of new disposable income into the domestic economy.”

“This proposal would be funded by the remaining €5.3 billion in the National Pension Reserve Fund and €1.7 billion in funding from the European Investment Bank. The EIB will loan governments 50% of a projects funding if it meets their criteria of being a sound and sustainable project.”

“It would be possible to access this funding and begin a major investment in the Irish state through the roll out of common sense, sustainable projects such as the construction of new schools, state run crèches and primary health care centres; the completion of regeneration projects in our cities; the construction of new, and development of already built vacant properties which would be suitable for social housing; and the expansion of next generation broadband across the state.”