Getting people back to work has saved the taxpayer €3bn – Harrington

“The recent recovery in the jobs market has saved the taxpayer approximately €3 billion,” says Fine Gael Cork South West TD, and Chair of Fine Gael’s Internal Social Protection Committee Noel Harrington.

“Today at a meeting of the Joint Oireachtas Committee on Education and Social Protection, the Tánaiste and Minister for Social Protection, Joan Burton TD, stated that the cost of providing working age income supports has been reduced from €5.99 billion in 2012 to €4.28 billion in 2015. This has meant a dramatic reduction of €1.71 billion, mainly due to the fall in those unemployed and receiving either Job Seekers’ Benefit or Assistance. This correlates to the dramatic rise of €1.45 billion in contributions to the Social Insurance Fund, which increased from €6.78 billion in 2012 to €8.23 billion in 2015. All in all the increasing numbers of people getting back to work has meant a saving of over €3 billion for the Irish tax payer.

“This is concrete proof that two of this Government’s main priorities are being achieved; creating jobs for all of our people and restoring our national finances to balance and reduce our borrowing needs for this and future generations. This will lead to direct increase in the take home pay for all those working in the forthcoming budget in allowing the Minister for Finance greater flexibility in reducing the tax burden for all but especially those on lower incomes.

“This is further evidence that the efforts of all our people over the last four difficult years are moving in the right direction. The sound policies that this Government has pursued have provided the foundation for the highest growth rate within the European Union and a reduction in our our unemployment rate from 15% to 9.5%.”