Labour's New Deal: Key Proposals for Economic Recovery

Posted on September 29, 2008 at 02:11 PM

Joan Burton TD

"The Government is in an increasing state of panic about the economy", Eamon Gilmore leader of the Labour Party said today as he launched' Labour's New Deal: Proposals for Economic Recovery'.

The document contains a ten-point plan which Labour is bringing forward in reaction to the developing economic crisis. It is a strategic programme for Ireland's economic recovery with combating rising unemployment as its top priority.

Speaking at the launch Eamon said: "The Irish economy is currently suffering from the twin problems of international turbulence and gross incompetence and mismanagement by this Government. That Ireland is the first Euro-zone country to go into recession is a clear statement of how the mismanagement of the construction boom, which peaked months before the credit crunch, has been at the centre of the recession."

Eamon went on to say that a key priority should be to redeploy workers losing their jobs in house building to public investment activities which require similar skills including school buildings, house insulation, social housing and urban regeneration.

Also in attendance at the launch was Labour Finance Spokesperson Joan Burton TD who said: "The Government is setting the scene for the toughest budget in decades, but the most vulnerable in our society must be protected. Swingeing, indiscriminate panic cuts are not the answer. This is not just a question of social solidarity, but one of sound economic rationale.

Cutting current spending or raising taxes will reduce economic activity in the short-term, while cutting investment spending will curtail activity in the short and longer-term."

Senator Alan Kelly said we needed a national and regional broadband strategy. He said: "Now is the time to encourage research, innovation and enterprise, with a particular emphasis on the need to ensure that adequate venture capital is available for high-tech start-ups. Unfortunately in the absence of a national and regional broadband strategy, Ireland will simply not be at the races in this regard."

You can download the document from our policy section of the website. You can read Eamon's full speech in our media centre as well as the release from Joan Burton and from Senator Alan Kelly.

Tagged with Finance