People Before Alliance Says Budget Must Lead To Radical Changes In Government Priorities
Focus must be on solving the jobs crisis
The bailouts of the banks should be reversed.
A wealth levy should be imposed on the assets of the super-rich.
In the lead up the budget People Before Profit has called for a radical shift in government priorities.
In recent months government efforts have been focused on bailing out the banks and cutting vital public services. As billions in tax payers money has been pumped into the banks the unemployment crisis has escalated. Untold misery is been inflicted on tens of thousands of ordinary workers and their families because the government has failed to act on the jobs crisis.
People Before Profit says:
“It’s time to stop pampering the banks. Estimates this week from Standards and Poors have shown that the full cost of the bail out could be €15 to €20 billion – 11% of GDP. This is just below the shortfall between government revenues and expenditure for this year. It’s now time to nationalise the whole banking system and use valuable government resources to address the unemployment crisis”.
People Before Profit is opposed to any attempt to cut welfare payments or impose taxes on the lower paid. It is also opposed to policies which seek to make workers pay for a crisis which they did not create.
People Before Profit is calling for:
• The creation of a National Construction Agency to embark on key projects in areas such as housing, education and energy conservation.
• Nationalisation of key industries such as Waterford Glass and SRBTechnics. While the government has bailed out the banks it has failed to act to support job retention. It is estimated that every job lost costs the exchequer €20,000. This should be invested in productive activity.
• Guaranteed retraining or access to education for the unemployed.
• An end to subsidies to developers and landlords. Interest relief to landlords costs €800m per year while the state pays almost €400m in rent subsidies. Property related tax reliefs cost €500m.
• A fairer tax system . We want
o a levy on all assets other than the family home;
o increases in capital taxes:
o new higher tax rates of 48% and 70% for higher earners
o an end to tax relief on pension contributions for those earning over €100,000.
It’s time for ordinary people to say they have had enough. People Before Profit will be campaigning against budget measures which inflict more pain on workers, the unemployed and the poor. Between now and the local elections we will be working with others on the left to ensure a real alternative is offered to voters.
