Labour Blog

Our vision for renewed prosperity to be built on rock of fiscal responsibility and investment

Posted on April 28, 2015 at 06:11 PM

Speaking during the Spring Statements today Minister Brendan Howlin said we must not allow this country to return to the devastating cycle of boom-and-bust that has been the hallmark of previous governments. 

He said: "We must learn the lessons of the past decade and not repeat the mistakes that brought us to ruin. Our vision and plans for renewed prosperity will not be built on the sand of short-term and unsustainable increases in Government spending.  It will be built on the rock of fiscal responsibility and investment in the productive capacity of our people."

Minister Howlin said our task now is to map the next phase of our nation’s journey.  

"This will be a country that creates good jobs with secure incomes; a country that provides well run public services; that listens and responds to people’s needs; that builds real communities; and provides real opportunities for all our people."

Key points of the Spring Statement

1. An Opportunity to build a sustainable recovery

We have come a long way. Our economy is growing, unemployment is falling, confidence is returning. But we have to make sure that the policies we follow are sensible and build, rather than jeopardise, the recovery.

2. Towards full employment by 20198

We have an opportunity to deliver full employment by 2018. By the end of this year, unemployment should be below 9%. Net migration will cease, and those who left wll have the opportunity to come home.

3. A Budget focussed on better living standards for working families

In Budget 2016, we will be able to deliver tax cuts and spending increases of up to €1.5b. Our tax reforms will focus on low and middle income earners, and our spending will prioritise health and education.

4. Ensuring public sector workers benefit from the recovery

We know that public sector workers sacrificed pay to aid the recovery. Now that we are in a better place, we can unwind emergency legislation and begin a dialogue to ensure public sector workers benefit over the next few years.

5. A new and modern Budgetary process

This Spring Statement is a part of reformed Budget process that is more modern, transparent and efficient. We will now engage in a public consultation to discuss our choices in Budget 2016.

 

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