Unemployment and economic stimulus
The Taoiseach presents broadly stable live-register figures, capital investment and IDA job targets as evidence of recovery. Kenny and other Opposition Deputies dispute this, citing widespread job losses, business closures and the Government’s failure to revive employment.
Anyone else for the last of the Choc Ices?
The official statistics of the live register for February will be published at 11 a.m. by the CSO.
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However, I understand from the internal figures of the Department of Social and Family Affairs that the end of February figure will show almost no change compared to January. This compares with an increase in February last year of more than 26,000. The live register normally increases in February, so these figures suggest a modest decrease on a seasonally adjusted basis. While unemployment remains at a high level, these figures confirm that the situation is stabilising.
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There is no one left to go on the dole at this stage.
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The figures also include nearly 74,000 people who are working part-time and nearly 21,000 people who are signing on to claim credits.
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The figure for January was 434,000. This is an appalling failure of the Taoiseach's leadership and his Government.
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If he continues to carry on in his personal way, he will be on his own. The people on the street are suffering in enraged silence at the carry-on and incompetence of the Government and what has happened here. A total of 750 jobs are to go at Halifax and 200 at Bitech in Louth, while 260 are at risk at Postbank. Bestseller Retail, with 14 stores and 80 jobs, is to close. At Boston Scientific, 175 hi-tech jobs are to be lost, as well as 170 at Debenhams, while 225 are at risk at Hughes and Hughes.
The Taoiseach's comments indicate no appreciation of the pressure and stress being experienced by thousands of people all over the country every day. When they look at this Cabinet, all they see is talk about jobs for the boys and the girls. If it were not so serious it would be like "Lanigan's Ball". We are led to believe from a news story broken on TV3 that Deputy Cuffe has the political carving knife to the throat of his leader, the Minister for the Environment, Heritage and Local Government. All that is being talked about are well paid and well pensioned jobs, when 434,000 men and women are on the live register because the Government's strategy has failed.
What is going up should be going down. Bank interest rates, unemployment and house repossessions are rising, while loan approvals, business investment and tax receipts are still going down. The Government will never break out of this cycle. Unless jobs and an economic stimulus are a central issue at the Cabinet table, it cannot happen. If the Government continues to cut people's pay and withdraw public investment, it will never address the problem.
The Government has skirted the issue for too long. A central core of the failure of the Fianna Fáil-Green Party Government relates to economic stimulus and jobs. The Taoiseach came in here this morning making smart comments.
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They follow comments he made about people he assumes have no capacity to make any judgment. The Taoiseach should break out of his own straitjacket of tribal Fianna Fáilism and accept that other parties, including Fine Gael and Labour, may well have proposals worthy of consideration and implementation by Government.
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With the Taoiseach, it is a case of "My way".
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This party has worked long and hard putting together a plan for economic stimulus and the capacity to create well over 100,000 jobs for young people, the unemployed and others coming to the labour market.
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The Taoiseach should be big and strong enough to break out of the straitjacket he is in and look, as Taoiseach to all our people, to worthy propositions. I will support the Taoiseach if he takes the Fine Gael economic plan for jobs and stimulus to put our country back to work, give our people confidence and restore some hope. All he has done since September 2008 is destroy the lives, careers and opportunities for our people. This is a potentially great country but the Government has failed to address the core issue. I ask the Taoiseach to look at it now.
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I have considered Fine Gael's banking policy and have just explained the consequences. The Deputy came in here yesterday arguing that under no circumstances should money be given to Anglo Irish Bank. I have just explained to the Deputy what happens.
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The Government got it wrong with AIB and Bank of Ireland. The Taoiseach should have listened to Deputy Bruton.
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I am not going to listen to a Taoiseach who is not telling the truth. He should read the record.
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The basis of Fine Gael's funding for a stimulus package arises from defaulting on bondholders and then raising bonds elsewhere to get the money for the work the party wants to do.
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I said assets should be disposed of that are of no value to the Irish economy——
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——before the Government gives them any money.
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——of how the party expects to get money when it does not propose to honour the existing bondholders? Fine Gael has come up with the idea of a national recovery bank which would be funded by the ECB. No such bank exists and none would exist on the sole basis of funding from the ECB.
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The Taoiseach should read about France.
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If deposits from existing banks in Ireland are to be chased in order to bring deposits into the new bank, the increased lending capacity is nil because deposits from one bank would be taken from one bank and given to another.
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The Government is destroying businesses.
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Our economic policy provides for a stimulus in the form of a 5% capital investment programme, even in the context of the most difficult public finance position we have seen in a very long time.
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We have cut €4 billion from capital investment.
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We are devoting €6.5 billion into a capital investment programme that is protecting up to 80,000 jobs in the economy.
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What about the people leaving the country?
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Even last year, in the most difficult year, 125 projects were obtained by IDA Ireland for this country.
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It is a very reputable enterprise agency that has always delivered for this country and can only deliver on the basis of a Government being prepared to put the public finances in order so that investor confidence in the country can be increased.
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The Taoiseach should leave his rhetoric behind.
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Good businesses are being destroyed to protect gamblers. That is all it is.
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The Taoiseach is protecting the gangsters who are destroying good businesses day in and day out.
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The Deputy should speak to John Bruton.
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At least he would be honest about it.
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What did Roadstone do last Friday but close every quarry in the place?
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The Government is not in the real world. It is time they joined the real world.