Reason 26: Investment is the Key
Investment is the key to an alternative economic strategy. It increases employment in the short-term and boosts economic growth in the long-term. It creates new resources that will generate revenue in the future – whether it is a Next Generation Broadband network, a new water & waste system, or energy-efficient buildings. The most important investment, however, is in people – education, (re)training and up-skilling; investing in people’s health, housing and leisure.
Investment pays for itself – so it is not a cost. It is a down-payment on future income. But the benefits start flowing immediately. This is according to the Nevin Economic Research Institute.
Thousands more are put back to work, the economy grows and the deficit falls. That’s how the alternative to austerity works.
How will we pay for it? The Government has over €18 billion in cash reserves – and even they admit this is excessive. Let’s use some of that to get people back to work and grow the economy.
ICTU has proposed incentivising the €70 billion of our savings (pension funds) which is mostly invested abroad, in order to boost investment. Let’s bring some of that money home.
Why should we march? Because we have the need, the people and the resources to invest. Let’s start.
- Posted in: Uncategorized