[Sinn Fein]

14th November 2002

Now is the time to invest in Irish jobs

Sinn Fein TD and spokesperson Enterprise, Trade and Employment has criticised the cuts proposed in the budget estimates which will impact severely on the job creation activity of Enterprise Ireland, Shannon Development and the County Enterprise Boards.

Deputy Morgan said, "At a time when we need to invest in indigenous industry and employment the funds for Enterprise Ireland, Shannon Development and County Enterprise Boards are to be cut by 18%, 30% and 13% respectively. Spending on some elements of FAS are to be cut by 41%."

"What message is the coalition government and in particular the minister for Enterprise, Trade and Employment sending to Irish business. Now is the time for innovative investment in developing Irish business not cutbacks.

"The IDA grants to industry are increasing, yet the cost of a new job in an IDA backed company was •13,375 in 2001. The cost of an Enterprise Ireland job was •8,977 over •4,000 cheaper but still way more costly than the •4,500 it took a County Enterprise Board to create a job. Surely now is the time to create a level playing pitch and more funding should be directed towards the agencies who can clearly create jobs more cheaply."

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