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Jobs and the Economy

The SDLP is committed to achieving a strong all-Ireland economy.

Future economic planning must prioritise all-island investment in green technology and infrastructure which has the capacity to create thousands of new jobs and secure Ireland's long term economic stability.

The SDLP has identified measures to tackle the economic downturn, create new jobs and restructure public spending to recoup over £400 million in our document  "New Priorities in Difficult Times".

When economic conditions change, the budget management process needs to be adjusted. Sinn Féin and the DUP have so far failed to take any significant action.

New Priorities in Difficult Times: a summary

The world has changed dramatically since the Northern Ireland Executive finalized its 3-year Programme for Government and Budget in early 2008. Not only has there been a severe economic downturn and credit squeeze, but also the capital receipts upon which much of the Budget was based have not materialised.

In short, the Executive’s Budget has been completely undermined - the assumptions underpinning it are no longer realistic, and the priority targets it has set will not be met unless there is considerable change.

The SDLP is calling on the Executive to revisit its spending priorities. However, the DUP and Sinn Féin refuse to change anything. It is not credible for them to argue that to divert extra resources into priority areas would mean cutbacks in health and education and therefore change cannot be considered. If the Executive is serious about achieving its economic and social objectives then the Programme for Government and Budget need to be recast.

Doing nothing is not an option. More jobs, more houses, more nurses mean a stronger economy.

The Executive has a fairly straightforward role as a government: it has no powers of taxation, no currency to manage and no leverage over interest rates.

Therefore, it is all the more vital that it manages its one economic lever - public expenditure - optimally.

In managing public expenditure in the economic downturn we must:

  • Stimulate economic activity protecting businesses and jobs from the impacts of the recession;
  • Prepare business and employees for the recovery phase of the recession;
  • Protect vulnerable households and individuals from the worst impacts of the global recession.

Read the full SDLP document to see where the money will come from and exactly where it should be spent.

Dr Alasdair McDonnell

Issue Spokesperson

Dr Alasdair McDonnell (MP, MLA)

Email a.mcdonnell@sdlp.ie Tel 028 9024 2474
View Dr Alasdair's Profile

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