Our Alternative Economic Programme-
For fairness and economic recovery
There is an alternative to this economic madness and social devastation. We must make those responsible for the crisis pay to clean it up and invest in jobs, infrastructure, strategic industry and vital public services.
- End the bail-out of bondholders and banks – Say no to IMF/EU austerity package.
- Take the banking system into public ownership to invest in jobs, sustainable domestic industry, and public enterprise capable of generating real wealth and growth.
- Increase taxes on top earners – 37,000 people in this country are paid an average of €300,000 a year. Their combined income is €11 billion. They should pay their fair share of tax.
- Impose a 5% wealth tax on the super-wealthy who still have an estimated €122 billion in wealth and assets. This could raise up to €5 billion a year in revenue.
- End tax loopholes for the very wealthy, big business and landlords which costs up to €10 billion in lost revenue to the exchequer
- Reverse the cuts to Health, Education, Disability and Social Welfare Invest in education and young people.
- Take the Corrib Gas Field and our natural resources back into public ownership. Potential income from gas and oil reserves based on international comparisons have been estimated at about €5 billion a year.
- Introduce a salary cap of €100,000 for all politicians, top civil servants, semi-state executives, judges, and all others paid with public money. Abolish all junkets and perks. This would save €80 million each year.
- No sell off of state assets – use them to stimulate the economy by investing in education, infrastructure, and jobs. For every €1 billion invested by the state 10,000 jobs are created, tax revenues increase by €400 million, and €60 million is saved on unemployment benefit.