O'Connor: State assets sale should not fund stimulus plan

O'Connor: State assets sale should not fund stimulus plan

The head of the country's largest union has said that the sale of state assets should not be used to fund a new stimulus plan.

SIPTU President Jack O'Connor said that instead, private pension funds should be used to pump €3bn into the economy.

"We don't agree that it (the stimulus package) should be funded by the sale of state assets," he said.

"We don't agree with the sale of state assets anyway, but secondly it doesn't look as if that's going to happen in the near-term, other than by a sale at bargain-basement prices, which I don't think either of the parties in Government would favour."

Mr O'Connor said the money should be used for projects such as roads, broadband infrastructure, schools and hospitals.

And he disagreed with economists who maintain that some of these projects do not yield any financial return.

"The return for social investment is obvious," Mr O'Connor said.

"The return for the very ambitious Grangegorman project, for example, in terms of economic growth would be obvious.

"You don't have to be an economist to see the kind of results the kind of results to be generated from proper third-level infrastructure."


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