Sinn Féin representative for Templeogue-Terenure Fintan Warfield has said this weeks growth figures from the CSO show why austerity must be dumped in this year’s budget. Warfield said the Government had been steadily reducing its growth projections to factor in the negative impact austerity is having on the economy.
Fintan Warfield said:
“When this Government came to power it predicted a 3% growth rate for this year. It has lowered that each year to factor in the negative impact their austerity policies are having on the economy. The figures today show a decline in GNP and a nominal increase in GDP. That increase is nowhere near sufficient to meet the Government targets this year.
“These figures should be a wake-up call for Government to ease off on austerity in next month’s budget. €3.1 billion in cuts and taxes will put to bed any hope of real growth.”