Dublin Council of Trade Unions

Reason 28: We Have the Money

We are constantly being told ‘we are broke’, ‘we’re in receivership’, ‘the government has no money’.  Like most refrains that come from supporters of austerity, this is not true.  The Government can access considerable resources – if they wanted to prioritise investment, growth and equality.

1.         The Government states it has €22 billion in cash on hand – money that it can easily access.  This doesn’t include the €5.4 billion held by the National Pension Reserve Fund.  While some of this money is needed to help fund future needs –even the Government admits that this is in ‘excess’ of what is needed.

Let’s use some of this excess to start an investment drive and get people back to work.

2.         There is over €100 billion in pension and insurance funds – most of which is invested abroad.  The trade union movement has put forward proposals to incentivise those funds to invest here – to stimulate growth and job creation.

Let’s bring some of our savings home to work for us.

3.         The top 5 percent of adults own over €150 billion in financial and housing assets.  They are certainly not broke.

Let’s tax those who can help contribute to growth and poverty reduction.

And if anyone says we’re broke – then why are we going to pay €6.1 billion next March to subsidise Anglo Irish debt?

Why should we march?  Because we’re not broke – we just don’t have the right priorities.

Download PDF here.


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