CSO figures: Government must respond to crisis by ending cuts, kick-starting investment

Euro and centsGovernment’s economic management now in serious question

Unite today (Thursday, September 19th) called on the Government to seize the opportunity provided by the forthcoming Budget and respond to the continuing economic crisis by ending spending cuts and kickstarting investment.

Commenting on the latest Quarterly National Accounts released by the CSO, Unite Regional Secretary Jimmy Kelly said:

“Since the onset of the recession, Unite has warned that austerity is self-defeating.  Today’s figures once again show that the medicine is slowly killing the patient.  Domestic demand remains in recession while investment is at its lowest level since the start of the crisis.  Government expenditure on public services has fallen by a staggering 10 per cent during the past six months, putting further pressure on households and on the economy as a whole.  Working people can take no comfort from these figures”, Jimmy Kelly said.

Unite research officer Michael Taft said:

“Since the Government came into office, domestic demand – the best reflection of the domestic economy’s health – has fallen by over 5 percent while investment, a key driver in the economy’s productivity, has fallen by nearly 7 percent.  The Government’s economic management is now in serious question”.

This entry was posted in Budget 2014, Press Releases, Republic of Ireland news. Bookmark the permalink.

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