Sinn Féin spokesperson on Finance Pearse Doherty TD has said that the Stability Programme Update published by the Department of Finance today fails to provide the ambition and ideas needed to secure a fair recovery that builds a stronger and better economy for all.

He added that it contained no credible path as to how the government can deliver on the needs of workers and families over the next five years, and that Fine Gael need to recognise that a balanced economy is as important as achieving a balanced budget.

Teachta Doherty said:

“The Stability Programme Update underlines the impact Covid-19 has had on jobs and our economy, but also points towards our ability to bounce back provided a successful vaccine rollout and an appropriate policy response to support incomes, jobs and businesses.

“With unemployment forecast to remain below pre-pandemic levels until after 2025, it is crucial that measures remain in place to support incomes, with a credible jobs strategy brought forward to provide opportunities and avoid the scourge of long-term unemployment.

“Today was an opportunity to put forward a credible and ambitious plan to address the challenges we faced before this pandemic, and that have been exacerbated by it.

“To end the housing crisis created by Fine Gael, to ensure that our children no longer sit in the most crowded classrooms in Europe, to tackle a decade of underinvestment and mismanagement in our hospitals by successive Governments.

“To take advantage of the low cost of debt-financing in order to invest in infrastructure across the country, boosting regional development and an inclusive recovery.

“Today’s report failed to provide that ambition, with no credible path of how the government can deliver on the needs of workers and families over the next five years.

“Fine Gael need to recognise that a balanced economy is just as important as achieving a balanced budget.

“There is no clarity on how the strategy published by government today can deliver in housing, health, education, jobs and climate action.

“Without that clarity, today’s report lacks credibility.”