Cllr McBrearty: Focus on job growth
The country needs government to focus on job growth, not on "imposing pain on ordinary people to bail out the banks," said Labour Cllr. Frank McBrearty Jr., candidate for Donegal South-West.
In a statement, the councillor said that lower-than-expected growth in the Economic and Social Research Institute (ESRI) latest economic forecast will "blow a hole" in the arithmetic that underpins the EU-IMF agreement and the government's four-year plan.
According to the ESRI, the economy will grow this year for the first time since 2007, but employment is expected to lag and remain relatively flat in 2012.
Declining participation rates and an average emigration of 50,000 people -- higher than the 1989 record of 44,000 -- are expected to contribute to levelling off unemployment, the report showed. The slower in growth would mean that the economy would be about 3 billion euro, or two per cent smaller than expected in 2012, with a higher deficit.
Cllr. McBrearty said that the combination of Fianna Fil's failure to address the credit crisis with their budget adjustment was cited as a roadblock to early recovery. He also said the income tax hit in Budget 2011 and continued uncertainty over jobs, incomes and taxes have been cited as a brake on domestic demand.