Crisis and the Economy

Congress regards the current economic and financial crisis as one which arises from the nature of our economic and social system. The concentration of economic power in the hands of giant financial and industrial monopolies, which use that power to influence politicians and Government policies, ensures that the maximisation of profit takes precedence over the interests of workers and their families. Policies of privatisation, marketisation, free movement of capital, 'light-touch' regulation and low taxes on the super-rich and big business protect and promote the interests of the giant monopolies. Conference therefore supports a radical programme of measures to boost the economy, create jobs, enhance public services and improve the lives of millions of workers and their families. These measures should include: The principle that the future of the Irish people should not be sacrificed to bail out banks. The debt was not incurred by the Government to build schools or hospitals, or to develop our natural resources in a sustainable way. It is private and corporate debt, which the Government socialised, and now ordinary people are being forced to pay for. The abolition of the Universal Social Charge which has drawn people earning as little as €77 per week into the tax net, and which breaches the fundamental principal of progressive taxation - that those who have more, should pay more.To reject the privatisation of public services and infrastructure providers. Undertaking a massive programme of public works including energy conservation projects. Public ownership of key services and natural resources including oil, gas and marine resources. Finally, Conference also believes that the terms of the 'bailout' package negotiated with the IMF/ EU and ECB overrode the interests of the people of Ireland, will stifle growth and will impoverish Ireland for generations to come and calls for the rejection of the terms of this bailout to be central to the above campaign.