GDP growth is based on sustainable job creation – unlike in the past – Doyle

The significant growth in GDP provides clear evidence that the jobs based recovery is working, according to Fine Gael TD for Wicklow/East Carlow, Andrew Doyle. Deputy Doyle was speaking after the Central Statistics Office (CSO) published national accounts estimates for the second quarter of this year.

In the second quarter of this year, real GDP rose by 1.9 per cent relative to the first quarter, and as a result was 6.7 per cent higher than in the same period last year.

“These figures clearly illustrate the impact on our national finances of the 1,300 jobs that are being created each week. Over 57,000 jobs have been created in the last year and 99.5% of these are permanent positions. It is no surprise therefore that people are spending more money and, in doing so, helping to generate further employment.

“Unlike the growth experienced in the previous decade under Fianna Fáil, this growth is sustainable because it’s based on the creation of sustainable jobs. Today’s CSO figures show that the increase in economic activity is broadly-based and the domestic and export sectors are performing well. Fianna Fáil’s economic model was based on the money coming in from the construction sector including the taxes paid by construction workers. When the construction sector collapsed it brought the economy down with it, leading to the loss of over 70,000 jobs per year.

“We still have a long way to go, too many people are still out of work, but we are moving in the right direction. It is the primary goal of this Government that all of the jobs lost under the last Fianna Fáil government will be replaced – and this time with sustainable, lasting jobs. We are determined to make work pay for people by reducing income taxes and removing lower paid people from the USC net.”

“We need to continue building upon the gains we have made in recent years and secure the recovery. Fine Gael is absolutely committed to ensure that the benefits of the recovery are fairly and widely distributed. It is vital that those who are still without work are given the opportunity to get back into employment, this time in jobs that will last.”