Jobless rate soars after Cowen blew the boom

LIKE many of your readers, I was shocked to learn of the extent of the proposed Government cutbacks.

Taoiseach Brian Cowen conveniently cited the international economic situation for the current state of the Irish economy. However, the mid-term Exchequer figures from earlier last month show conclusively that Mr Cowen blew the boom and has instigated the worst deterioration in our public finances in the history of the State.

During the Taoiseach’s four-year tenure as Minister for Finance a €4 billion surplus was turned into a €3bn deficit through reckless and self-indulgent budgets which followed an electoral rather than an economic cycle.

Of the €440m proposed cutbacks in 2008, €144m are planned in the health sector alone.

Worse still, the Central Statistics Office reveals the biggest ever increase in the live register in June.

A total of 19,055 more people signed on between May and June, with 635 people losing their job every day — the highest ever increase. Since the last election, when the Fianna Fáil government scraped back into power on the back of false economic promises, at least 54,000 people have lost their jobs and the live register has risen by one-third.

The Taoiseach must now outline a clear and comprehensive strategy on how his Government intends to deal with the serious economic situation the country now faces.

Mark Wakefield

Mercier Park

Turners Cross

Cork