Monday, January 31, 2011
I believe there is a better way
Sadly this Government has ruined the economy. The Government policies we warned against in the 2007 election have brought about economic chaos. Our public finances have collapsed, our banking system has caved in under its own greed and we have record high unemployment. 14,600 people in Waterford are out of work with thousands more having emigrated. We need to change course.
I and Sinn Féin are arguing for a more realistic deficit reduction strategy. We are calling for a six year plan and one that reduces the deficit by protecting middle and low income families and targets high earners and wealth. We have published comprehensive taxation alternatives which are fully costed by the Department of Finance. No individual who earns under €100,000 or family earning less than €200,000 a year is affected by our proposals, They include a third rate of tax of 48% on individual incomes in excess of €100,000 a year, standardising all tax relief’s, the introduction of a 1% income linked wealth tax on all assets in excess of €1million and modest increases in capital gains and capital acquisitions tax.”
We are also arguing for a three and a half year €7Billion stimulus plan funded from the National Pension Reserve Fund. We are opposing the IMF/ECB deal which sees the state borrow €35 billion to pay for private banking debt. We will stand up for Ireland’s interests and not those of international investors who took a gamble and lost. Working families who are getting hit hard should not be saddled with more private banking debt. It is morally, socially and economically wrong. It is time to make the decisions that our in Ireland’s interests and we in Sinn Féin stand ready for that challenge.