Martin silence on jobs frightening; 200k fewer jobs under FF would kill recovery – Coveney

In response to Micheál Martin’s interview on RTÉ, Minster Simon Coveney said that Fianna Fáil have again demonstrated their zero credibility on the economy and it is the same old Fianna Fáil, offering higher taxes and no jobs plan.

“Hearing Micheál Martin on Morning Ireland made for frightening listening. It was incredible to yet again hear Micheál Martin outline his failed economic policies of the past with not one mention of jobs in the whole interview. Fianna Fáil back in Government would mean 200,000 fewer jobs by 2020 and they would have a black hole of €1.4 billion less to invest in services.  Fine Gael is the only party to have a Long Term Economic Plan to keep the recovery going.”

“Fianna Fáil opposed Fine Gael’s tax cuts in the last budget and wanted to keep the marginal tax rate over 50% for low and middle income earners. Micheál Martin confirmed this morning that Fianna Fáil would not reduce the 5.5% USC rate for earners above €18,668 for at least two years. Fianna Fáil have been all over the place on USC since Budget 2016.

“Fine Gael wants to reduce the marginal income tax rate to 44% for low and middle income earners to help create more jobs and to keep the recovery going. If Fianna Fáil had their way, low and middle income earners would be paying over 50%. A Sinn Fein/Fianna Fáil alternative would surely lead to an income tax bomb pushing marginal tax rates over 60%.

“Martin confirmed again that Fianna Fáil would unilaterally legislate to force the Central Bank to control mortgage interest rates, directly overruling its wishes and authority. Fianna Fáil’s irresponsible attitude to regulation led to the economic crash in 2008 and given the chance they would do it again.

“Not only would Fianna Fáil’s policy undermine the independence of the Central Bank, it would scupper any plans to sell off the State’s holdings in the banks as potential investors would have no appetite to invest in any Irish bank hamstrung in its commercial activity by legislation.

“This is a failed economic philosophy from the same old Fianna Fáil.  Micheál Martin’s insistence that Fianna Fáil would interfere with the independence of the Central Bank, again clearly demonstrates  that they have learned nothing from the past.”