Sinn Fein’s economic illiteracy shines through again
25 March 2011
“After presiding over a huge rise of 150% in unemployment since 2007 the failed Stormont Executive needed some distraction to try and create a pre-election feel good factor. Enter stage left the super-charged announcement of delivering to those who couldn’t keep water in our taps the right to raise taxes. The panacea to Stormont’s ills had arrived, Corporation Tax powers, never mind the cost of a £300m loss pa to the block grant.
“However, the cameras hadn’t stopped rolling till Sinn Fein stepped forward with a show stopping clanger. Though, when clutching for successes, McGuinness will cite the bringing of more jobs through Citibank and supposed success in attracting jobs in the financial sector, suddenly the anti-capitalist opium of Sinn Fein kicked in and the corporation tax cut would not be for them! Banks, like an opposition in Stormont, are anathema.
“Only the type of mind that could justify selecting categories of society for terrorist attack - like picking out a young mother and census worker for murder - could think you can be selective in deciding who benefits once you reduce corporation tax. It’s an all-inclusive instrument. It has mandatory application across the board. So, whether McGuinness likes it or not, having for years demanded even higher company taxes on the banks, he is now pursuing windfall tax concessions for them.
“With such muddled minds in charge of strategic development, little wonder economic decline is one of the landmark ‘achievements’ of the Jokes on the Hill.”
