During a visit to Galway last weekend, Sinn Fein’s finance spokesperson, Pearse Doherty, called on the public to join the campaign to ‘Stop the Handover’ of billions of euros to Anglo bondholders.
Speaking in Ros a Mhíl last Friday, Deputy Doherty announced details of an on-line petition against the handover of up to €700 million when the next bond payment is made on November 2. According to Deputy Doherty a further €1.2 billion is set to be paid out in January despite the upcoming austerity budget due in December taking €4 billion out of the economy. The campaign is urging the public to use their voice and tell the government parties to ‘Stop the Handover’.
Deputy Doherty said: “On 2 November, Fine Gael and Labour will pay out a €700 million unguaranteed senior bond in Anglo Irish bank. This bond payout comes just one month before an austerity budget which will inflict hardship on children, on carers, on the disabled, and on the working poor. In January a further €1.2 billion will be paid out – the 2 November is only the first payment of billions of taxpayers’ money.
“The Government plans to take between €3.6 and €4 billion out of the economy in the Budget. A €700 million saving could mean no household charge. It could mean no welfare cuts. Even the smallest cut has the potential to wreak so much damage. The cut of 200 special needs assistants this year caused untold damage for families with special needs children and saved the State only €6 million.
“I am encouraging people to make their voices heard. People power can stop this outrageous payout. I am asking everybody to sign the petition and lobby the Taoiseach and their local TDs directly and tell them to ‘Stop the Handover’,” he said.
During his visit, Deputy Doherty also explained that he and his party’s finance team are currently in the process of preparing their pre-budget submission which promises to provide fully costed alternatives to the Government’s stated intention. As part of this process, Deputy Doherty is travelling throughout the State to meet with communities and organisations which have seen at first hand the devastating impacts that austerity measures have already caused.
In Galway, Deputy Doherty met members of the Ros an Mhíl Harbour Delevopment Advisory Committee and the National Offshore Committee as well as turfcutters from the Connemara area. Speaking after a series of meetings he said: “I want to first of all thank all of the groups for meeting with me in Ros an Mhíl today and for outlining the challenges they are already facing as a result of the governmental cuts imposed, first by Fianna Fáil, and now by Fine Gael and Labour. In preparing the Sinn Féin pre-budget submission I wanted to meet, at first hand, the people who will be on the front-line, dealing with further cutbacks. While Michael Noonan and his advisors are locked up in an office in Dublin, families in Galway are wondering how they will survive the consequences of another austerity budget.
“Sinn Féin will present Fine Gael and Labour with an alternative budget proposal. It will be fully costed but it will show how hard-pressed families and front line services can be protected. Our discussions in Connemara will help our deliberations in preparing our proposals.”
