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British Government Proposing Economic Madness

27/02/11

Pádraic Mac Coitiréirígí candidate for the Upper Falls area in May’s Six County local government elections Pádraic Mac Coitir has slammed British government proposals to slash corporation tax in the North.

Mac Coitir was responding to recent comments made by British secretary of state Owen Patterson.

Patterson has suggested that the corporation tax rate in the Six Counties could be cut to as low as 10 per cent from its current 28 per cent in an effort to ape the disastrous economic policies of the Twenty-Six County government.

This follows lobbying in favour of the cut by establishment politicians in the Six Counties, along with the business class.

Mac Coitir said: “At a time when public services are desperately in need of extra revenue, it is nothing short of economic madness to propose cutting the rate of corporation tax by a rate of even one per cent, never mind the 18 per cent the British government is talking about.

“What we are seeing is a perfect convergence of views between a British Tory government, Stormont politicians and the local business class, all in the interests of providing greater profits for the already wealthy.

“Since the economic crisis began, a number of multinationals have banked the public subsidies they received for locating in the Six Counties and upped sticks to more exploitation-friendly destinations. Slashing the corporation tax will only encourage such behaviour and leave more workers high and dry.”

Mac Coitir added: “It is absurd for anyone to suggest that the economic policies that were followed in the Twenty-Six Counties – policies that created a basket case economy in thrall to the International Monetary Fund – should be replicated anywhere, never mind in the same country.

“éirígí will continue to play its part in the building of effective resistance to the slash and burn agenda of the London and Dublin governments and the Stormont administration.

“Ultimately, what is needed to take workers out of unemployment, build efficient public services and reverse emigration is the creation of a 32-county economy that is based on public ownership and human need, not private greed.”

 

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