Stimulus plan a missed opportunity
Sir, – The Government stimulus package of grants, tax cuts and guaranteed loans to revive the economy represents a weak response, a squandering of the available €7.4 billion and a waste of opportunity which will result in a low multiplier return to the national economy and have little effect in healing an unjust and unequal society. (“Grants, tax cuts and loan guarantees announced in a bid to revive economy”, News, July 24th).
The measures proposed can be likened to a farmer sowing all his crop seed in the four furthest corners of his field and expecting a harvest from the total field.
Much of this funding will not reappear and will not be spent in the national economy and as a result will not create wellbeing.
It is difficult to expect creative, imaginative and confidence building measures from the prudent managers of our economy.
We are continuously told that we are all in this together, and this has been true in the population’s response to the pandemic and the united front of all.
This Government’s response is divisive and squandered the opportunity of building on togetherness. It pleased the few and neglected the many.
The time is right for the implementation of a universal basic income which would give confidence to all, ensure a greater return to the economy and renew our society.
It is not too late to do this, and it is time to have belief in our people and allow our society to emerge from constructed dependency. – Yours, etc,
Sir, – In these times, when many citizens cannot access even the basics – housing, healthcare, a decent wage, etc – the pertinent question to ask when assessing the stimulus package is whether it adds, “more to the abundance of those who have much or whether it provides enough for those who have too little” (Franklin Delano Roosevelt).
The answer is depressingly the former, which will see the social divide significantly widened in its wake. It is nothing other than a Charlie McCreevy-style SSIA scheme on steroids. – Yours, etc,
Sir, – All this talk of financial stimulus must be galling for the old “balance the books” mentality of some in Fine Gael. But will it last? – Yours, etc,
Sir, – Has the new Government found the elusive money tree? – Yours, etc,