The Labour Party has been to the forefront in putting jobs front and centre
of its recovery strategy.

To date, Fianna Fáil has put almost its entire focus on bailing out banks and inflicting maximum pain to clean up the €20bn mess of their own creation in the public finances. The simple fact of the matter is that without economic growth and a coherent jobs strategy, Ireland risks a decade of stagnation and mass unemployment.

Getting people back to work is also the best way to address the budget deficit and to ensure that the property market doesn’t undermine the banks further by weakening further.

There has been some welcome news of late which would seem to indicate that Labour pressure is having some effect on government as they undertake belatedly to introduce two key planks of Labour’s jobs plan: a targetted loan guarantee scheme to ensure the hard-pressed SME sector can keep paying wages and suppliers, and a PRSI holiday for employers taking the long-term unemployed off the dole.

5 Point Jobs Plan:

• A Strategic Investment Bank which would use €2bn, less than 10% of the total, from the National Pension Reserve Fund to support commercial investments of up to €20bn in critical infrastructure projects and innovative start-ups and SMEs.
• An SME Working Capital Guarantee Scheme which would ensure that viable small and family businesses can get the loans they need.
• A €1.15bn jobs fund to support training schemes and labour intensive capital investment.
• A PRSI holiday for employers taking the long-term unemployed off the dole.
• A Graduate & Apprentice Programme which would guarantee relevant, work-based training and an opportunity to obtain new qualifications for all young people out of work.