26 November 2009 Edition
Fine Gael plan means social welfare cuts
“Cutting employers’ PRSI contributions will result in less money going into the social insurance fund from which social welfare is paid. This will obviously lead to social welfare being slashed.
“The proposal from Fine Gael and Richard Bruton is not the way to save jobs. Ultimately, it will lead to a further contraction of the economy as the spending power of the hundreds of thousand of people on social welfare is cut.”
He said that what is required is a package to both retain jobs and stimulate the economy.
Sinn Féin has proposed a €600 million jobs retention fund to be paid for by a number of revenue-raising measures, including a tax on wealth and the introduction of a third tax band of 48% on income over €100,000.
“Sinn Féin has shown where money can be saved and raised to both close the public finance deficit and invest in our economy but without resorting to targeting social welfare of public services. This is the fairest approach to dealing with the economy,” Aengus said.
“Those who seek to bring more economic pain on those who can ill afford it while not asking for a penny from the highest-earners in the land should be ashamed of themselves.”