Union Welcomes Credit Guarantee Scheme

SIPTU has welcomed the Government's decision to commence with a credit guarantee scheme for businesses but with over 435,000 on the Live Register believes much more must be done to get people back to work.

Responding to the Government’s publication of the Action Plan for Jobs 2012 Third Progress Report, today, SIPTU Economist, Marie Sherlock, said: "We are disappointed that the report indicates that there has been less progress than was planned in encouraging commercial investment into infrastructure development projects.

"SIPTU and Congress have been consistently calling for the roll out of a major infrastructural investment plan which would be funded from a combination of sources including occupational pension funds and the European Investment Bank. The Government’s €2.25 billion package announced in July was a welcome first step but much more needs to be done."

Marie Sherlock added: "The progress report highlights that investment into infrastructure has been delayed and notes that private pension funds have sought clarity on a possible rebate from the pension fund levy in exchange for investment. SIPTU calls on the Government to make clear its position and put in place an incentive to these occupational pension funds to invest in Irish infrastructure projects."

(CD)