Sinn Fein’s economic policy both inane and insane – Allister

01 October 2010

In a hard-hitting attack, TUV Leader Jim Allister described Sinn Fein’s economic approach as a ‘toxic mix of economic illiteracy and blind political dogma’. Challenging who would foot the bills if fiscal powers were devolved to Stormont, as demanded by Sinn Fein, he said even a 95% tax rate wouldn’t do it. “With such economic madness informing one half of the DUP/Sinn Fein coalition it cannot and will not deliver economic prosperity for Northern Ireland”, he warned.

Statement by TUV Leader Jim Allister:-

“Sinn Fein must be the most economically illiterate party to ever sit in government. Driven by their Marxist dogma, rather than the reality of 2010, they inanely demand ‘no cuts’, and advocate an even bigger public sector, with no thought as to who would pay for it.

“Then, they move from the inane to the insane by demanding ‘devolve economic control’! Have they never heard of the annual multi-billion Westminster subvention which keeps our block grant in funds? Where would the money come from if in Sinn Fein’s wonderland Stormont took control of fiscal policy? Certainly not from the bankrupt Republic, which is about to pay its entire annual tax take to fund the crippling debts of a single bank!

“The corollary of devolution of fiscal powers to Stormont is that you must raise locally everything you spend. A 95% tax rate wouldn’t even do it. Yet, this is the lunacy which Sinn Fein peddles, not because it makes any economic sense but solely because it is but their next staging post demand in cutting another tie to GB. If they think they could still take the begging bowl to Whitehall once fiscal powers were devolved, then they are even more deluded than I thought.

“This toxic mix of economic illiteracy and blind political dogma has no place in steering Northern Ireland to better economic times, yet under our absurd system at Stormont the peddlers of such nonsense have a controlling veto.

“With such economic madness informing one half of the DUP/Sinn Fein coalition it cannot and will not deliver economic prosperity for Northern Ireland. We’ve all seen how spectacularly they failed on the mundane issues, what hope on economics which requires at least a modicum of common cause and common sense?

“Unless and until we get to a coalition system based not on compulsion but on voluntary agreement between those who can agree on what to do about the economy and the other key issues, with those who can’t in opposition, then moribund failure will be the order of the day at Stormont.”

NI politics