Bruton warns Irish economy in 'devastating crisis' as GNP collapses

“The Quarterly National Accounts reveal that GNP has fallen by 11.6% in the last 12 months. The scale of the crisis facing the Irish economy is devastating,” Fine Gael Deputy Leader & Finance Spokesman Richard Bruton TD has warned.

“This comes on top of CSO data showing a 175,000 fall in the number of people at work and the disproportionate impact on young people. Some 33% of young men under the age of 25 are now unemployed. The inherent risk here is of an entire generation being lost.

“After the disastrous economic management of the last decade, recovering lost competitiveness to drive an export-driven jobs recovery is now the most important national challenge. Excluding the jobs-light pharmaceuticals and chemicals sectors, where statistics are distorted by multinational transfer pricing, the CSO also revealed that goods exports fell 11% in the first half of the year.

“The adjustment to be made in public finances remains immense. Although the size of the real economy has fallen back to 2005 levels, total public spending has continued to climb at an alarming rate, and will exceed 50% of GNP this year.”

Fine Gael Lisbon Treaty: Campaign National Day of Reckoning - Timmins

Billy Timmins T.D., Fine Gael Lisbon Campaign Director, has today (Tuesday) announced a National Lisbon Campaign Day for 26th September where there will be a coordinated one day drive to secure a Yes vote to complement what has been an already positive and vigorous campaign on the ground. 

“Fine Gael has been active on the ground over the summer and our concerted effort will culminate in a coordinated campaign drive on 26th September when our members will canvass across the constituencies in the drive for a Yes vote. The feedback we are receiving has been positive and there is a growing acceptance of the economic benefits to be gained from Ireland remaining at the heart of Europe.

“Twenty-five per cent of the electorate have yet to be convinced of the merits of a Yes vote in next month’s Lisbon referendum. Fine Gael relishes the opportunity of engaging directly with the Irish people in an open and honest way to allow them to make an informed decision on an issue that is critical to Ireland’s immediate and long term future. 

“Fine Gael’s campaign is based on direct engagement with the electorate. The Fine Gael leader Enda Kenny T.D. will be undertaking a tour of the country in order to talk directly to the people about their needs and hopes in regard to Europe in a vigorous campaign to secure a Yes vote. Public meetings will be held in every constituency in the country on the night of the Equinox, September 21st, and these are designed to provide information and a forum for debate on the Lisbon Treaty. In addition there will be four themed seminars held in locations around the country on issues including, Banking, Jobs, the Agri-Food sector and the Green Economy.

“It is critical that there is direct engagement with the Irish people during the Lisbon Treaty Campaign. Fine Gael relishes playing its part in convincing the electorate of the benefits of a Yes vote in the Lisbon Referendum.”

New Drugs Strategy must counteract dramatic increase in drug use - Byrne

“The dramatic increase in cocaine and opiate use across the country, as outlined in new research published by the Health Research Board, is a huge cause for concern and must be tackled head-on in the new National Drug Strategy”, says Fine Gael TD Catherine Byrne.

“The facts speak for themselves: between 2002 and 2007, the number of cases of opiate use increased by 31%, while the total number of cases of cocaine use for the same period rose by a staggering 177%. There was a particularly high incidence of cocaine use amongst those under the age of 27, which shows there is an urgent need to focus on prevention through education at a young age.

“It is clear from this new research that drug use is no longer just an urban problem. While Dublin still has a high number of drug users, the number of cases outside Dublin is growing fast, and local communities and health services are not equipped to deal with this. Heroin has taken hold in many rural communities and is having devastating effects.

“While treatment is available, it is not adequate. There is increasing pressure on detox and rehabilitation beds right across the country, with many people being forced to wait months for treatment. Many drug treatment services, which were set up in recent years under the National Drug Strategy, have seen their budgets cut, and services in the community have also been scaled back.

“Now that the Office of the Minister for Drugs has been established, Minister Curran must commit to prevention and rehabilitation as the core elements of the new drugs strategy which is due to be published next week. This new strategy is a golden opportunity to re-focus the fight against drugs in Ireland, and this time it has to work.”

Stockbrokers back NAMA - taxpayers should beware - Varadkar

“I’m not at all surprised that Bloxham stockbrokers has come out in support of the Government’s misguided and dangerous NAMA plan. Stockbrokers backing NAMA is a bit like children backing Christmas: it’s goodies all the way, with someone else footing the bill,” Fine Gael Enterprise Spokesman Leo Varadkar TD has said.

“The only surprise is that Bloxham waited so long to offer support, given that one of NAMA’s aims is to bail out the same bondholders and shareholders who trade with stockbrokers like Bloxham.

“More surprising is the fact that RTE chose to give precious airtime to Bloxham, during which the stockbroking firm was able to defend the NAMA bailout, in its own interests.

“NAMA is the biggest gamble in the history of the State. Taxpayers’ money will be used to bail out the financial system, as well as its bondholders and shareholders. Yet NAMA will do nothing to get credit flowing again to small businesses.

“Fine Gael’s proposals for a National Recovery Bank are designed to get credit flowing again and to drive new lending. This wholesale bank would buy new, high-quality loans from the existing retail banks, using their existing networks and customer base.

“But for Fianna Fáil, and Bloxham, it’s still ‘NAMA or nothing’.”

Yes vote to Lisbon key to Ireland’s economic future - Creighton

Fine Gael Spokesperson for European Affairs, Lucinda Creighton T.D. has outlined the reasons why Ireland's economic recovery is dependent on a positive outcome to the Lisbon Referendum on October 2nd.

"The economic argument for a Yes vote in the Lisbon referendum is very clear. It will greatly enhance Ireland's chances of recovery and yesterday's jobless figures are a further reminder of just how grave our present economic situation is. At a time when there are almost 430,000 people on the Live Register, we cannot afford to reduce our commitment to a European Union that has seen one million jobs being created here since we joined in 1973. 

"Over 60% of all Irish exports go to Europe and there have been decades of European investment in our key infrastructures. Europe has been a positive force in Ireland's emergence as a strong and independent economy and can offer us the kind of support we need in the current crisis. Ireland can benefit greatly from the recently launched €5 Billion EU economic recovery plan which is designed to stimulate growth in critical investment projects. 

"Foreign direct investment in Ireland is heavily dependent on our membership of the EU and our status as a 'Gateway to Europe'. There are 994 foreign companies in Ireland that account for 85% of our manufacturing exports and their commitment to us is dependent on our commitment to Europe. 

"The EU is essential to our economic recovery. A yes vote will bring confidence to those who create jobs, both indigenous business and overseas investors, and it will send a strong message that we are an integral part of the Common Market. As Paul Rellis, the managing director of Microsoft Ireland and president of the American Chamber of Commerce in Ireland has stated, our whole economic recovery is inextricably linked to a Yes vote.

"A Yes vote in the Lisbon Referendum can provide the economic handrail Irelands needs in the current crisis as well as sending a strong signal that we are determined to remain central to the European project."