Government ‘squandered benefits of economic boom’
Sinn Fein claimed today that the Government had ‘‘scandalously squandered’’ the benefits gained by the Celtic Tiger.
Presenting the party’s pre-budget submission in Dublin, Caoimhghin O'Caolain TD said the current coalition administration had been in office at a time of exceptional prosperity, resulting in budget surpluses in four successive years.
But he said the Government had ‘‘not only failed to tackle the structural inequalities which warp our economy and damage our society, it has actually worsened those inequalities and widened the gap between rich and poor.
He said: ‘‘In the budget for next year, the coalition has its last opportunity to do what it has failed to do so far - significantly redistribute wealth in our society.
‘‘Such redistribution is even more necessary as we face an economic downturn.’’
Mr O'Caolain said the current budget - due to be detailed in the Dail next month by Finance Minister Charlie McCreevy - was being framed in ‘‘a dramatically changed economic climate’’.
‘‘The unprecedented growth in the economy during the past five years has slowed to a standstill in the space of a few months,’’ he said.
He called for a concentration of resources on the areas of health, housing, social welfare, education and childcare services and tax reductions for the low paid only.
