Menu
13/03/2014
Lack Of Growth In GDP 'Huge Concern'
The government's failure to grow Ireland's GDP has been described as " a real concern for future economic prospects".
While welcoming the news of an increase in the State's GNP, Sinn Féin Finance spokesperson Pearse Doherty said he was left with "mixed feelings".
"On the one hand, we’re back borrowing in the bond markets at sustainable rates – on the other we are carrying unsustainable debt," Deputy Doherty said.
Adding: "The growth in GNP is to be welcomed. However, the contraction in GDP is a huge concern. Government has signed us up to a number of targets, including deficit adjustment, which rely on GDP growth.
"The Government talks a good talk on growth, in the same way they talk a good talk on stimulus and using the EIB. But the facts remain – they predicted a 0.2% growth in 2013 GDP, but achieved a 0.3% contraction. They have accessed the EIB less in the last three years than it was accessed in the three years previous to that. And the legacy of their 'jobs plans' is continuing high unemployment, shredded capital spend and emigration.
"The Government is clapping itself on the back today for being able to borrow more money, but these figures indicate a worrying trend –a shrinking economy, a Government wedded to austerity and an uncertain future. Sinn Féin has advocated a path that pursues growth from the start and we will continue to present this alternative to Government, and to the people of Ireland."
(MH/IT)
While welcoming the news of an increase in the State's GNP, Sinn Féin Finance spokesperson Pearse Doherty said he was left with "mixed feelings".
"On the one hand, we’re back borrowing in the bond markets at sustainable rates – on the other we are carrying unsustainable debt," Deputy Doherty said.
Adding: "The growth in GNP is to be welcomed. However, the contraction in GDP is a huge concern. Government has signed us up to a number of targets, including deficit adjustment, which rely on GDP growth.
"The Government talks a good talk on growth, in the same way they talk a good talk on stimulus and using the EIB. But the facts remain – they predicted a 0.2% growth in 2013 GDP, but achieved a 0.3% contraction. They have accessed the EIB less in the last three years than it was accessed in the three years previous to that. And the legacy of their 'jobs plans' is continuing high unemployment, shredded capital spend and emigration.
"The Government is clapping itself on the back today for being able to borrow more money, but these figures indicate a worrying trend –a shrinking economy, a Government wedded to austerity and an uncertain future. Sinn Féin has advocated a path that pursues growth from the start and we will continue to present this alternative to Government, and to the people of Ireland."
(MH/IT)
Related Irish News Stories
Click here for the latest headlines.
08 April 2008
Bertie For President
Bertie Ahern has been mooted as one of a number of possible candidates for the new position of EU President. Hans-Gert Pottering, the current president of the European Parliament, was speaking after holding talks at government buildings yesterday on the forthcoming Lisbon Treaty referendum.
Bertie For President
Bertie Ahern has been mooted as one of a number of possible candidates for the new position of EU President. Hans-Gert Pottering, the current president of the European Parliament, was speaking after holding talks at government buildings yesterday on the forthcoming Lisbon Treaty referendum.
08 August 2014
Fine Gael Welcomes ESRI Report
The latest report from the Economic and Social Research Institute (ESRI) has been welcomed by Fine Gael. They have described it as a "testament to the policies implemented under the current Government.
Fine Gael Welcomes ESRI Report
The latest report from the Economic and Social Research Institute (ESRI) has been welcomed by Fine Gael. They have described it as a "testament to the policies implemented under the current Government.
30 September 2015
Ireland's GDP To Grow In 2015 - ESRI
Ireland's GDP is expected to grow 6% in 2015, according to the Economic and Social Research Institute (ESRI). In its Quarterly Economic Commentary, the think tank also forecasted a 4.5% growth in the economy for 2016. Declines in unemployment are also expected, with a fall to 9% by the end of 2015 and 8% by the end of 2016.
Ireland's GDP To Grow In 2015 - ESRI
Ireland's GDP is expected to grow 6% in 2015, according to the Economic and Social Research Institute (ESRI). In its Quarterly Economic Commentary, the think tank also forecasted a 4.5% growth in the economy for 2016. Declines in unemployment are also expected, with a fall to 9% by the end of 2015 and 8% by the end of 2016.
17 December 2013
Government Launch Economic Growth Plan
Unemployment in Ireland will not fall below 10% before 2018, the government's new economic plan has said. The newly published Strategy for Growth has predicted an unemployment rate of 8.1% by the year 2020. The document also lays out predictions for economic growth, saying that by next year it will reach 2%, then 2.3% in 2015 and 3.0% in 2020.
Government Launch Economic Growth Plan
Unemployment in Ireland will not fall below 10% before 2018, the government's new economic plan has said. The newly published Strategy for Growth has predicted an unemployment rate of 8.1% by the year 2020. The document also lays out predictions for economic growth, saying that by next year it will reach 2%, then 2.3% in 2015 and 3.0% in 2020.
11 July 2013
Union Urges Govt To Increase Minimum Wage
Both the national minimum wage and social welfare payments should increase in the autumn budget, the Unite trade union has said. The union is calling on the government to make the increase in an effort to encourage spending.
Union Urges Govt To Increase Minimum Wage
Both the national minimum wage and social welfare payments should increase in the autumn budget, the Unite trade union has said. The union is calling on the government to make the increase in an effort to encourage spending.
-
Ireland WeatherThis Evening and Tonight:Cloudy with clear spells, mainly dry evening becoming windy with rain at times from late evening. Turning drier with clear spells towards morning. Milder than of late. Minimum temperature 2 °C.
