We publish for the information of our
readers the latest editorial of The Red Plough.
addressing the annual dinner of the Confederation of British Industry
(CBI) Northern Ireland.It is clear as daylight that the
Fianna Fail/Green Coalition in the 26 counties is a business Government
dancing to the tune of the bankers and moneymen worldwide. Under
pressure from international financial institutions they have decided
that the peoples’ money shall go as follows: Bank of Ireland €2.7
billion; AIB, €7.4 billion; Irish Nationwide, €2.7 billion; EBS, €875
million.
At the same time the banks have been given the go ahead to increase
interest rates. In the December budget the drastic measures introduced
were to deal with a €24 billion deficit.
€4 billion was taken from peoples’ wages, social welfare rates and
public services. So essentially there will be a period of maybe 10 to 15
years when money is taken from the working people and thrown to the
banks as a reward for their drastic mishandling of their businesses.
That is called Capitalism. Take from the poor give to the rich.
Organised workers are faced with a shameful deal negotiated by their
trade union leaders. They have agreed to a reduction in the number of
public sector jobs of approximately 17,000. In the new language that is
now called “transformation” and it means increased unemployment and a
reduction in public services. The impact on the overall economy will be
deflationary when it is clear that the economy needs not deflation but
stimulus.
The unorganized are already suffering. Cuts are already taking place
in social welfare, in community projects, including inner city projects
to combat poverty and deprivation. Hospital budgets are being cut and
health services run down.
At the same time in the north educational services are working
without knowing what their budgets are and how many teachers to make
redundant. Cuts will be introduced across all public sector services.
The Irish economy North and South is in deep trouble and the main
people who are, and will continue, suffering are the working people who
actually create the wealth. It is time the unions instead of cosying up
to both administrations, organised their forces into building a mass
party of the working class fighting on a socialist programme.
[Originally published in The Red Plough, Vol. 1, No
7, April 1, 2010]
