{"id":1259,"date":"2020-10-14T16:35:41","date_gmt":"2020-10-14T15:35:41","guid":{"rendered":"https:\/\/www.socialdemocrats.ie\/budget-2021-avoids-the-investment-required-in-public-services-and-the-economy\/"},"modified":"2020-10-14T16:35:41","modified_gmt":"2020-10-14T15:35:41","slug":"budget-2021-avoids-the-investment-required-in-public-services-and-the-economy","status":"publish","type":"post","link":"https:\/\/www.socialdemocrats.ie\/ga\/budget-2021-avoids-the-investment-required-in-public-services-and-the-economy\/","title":{"rendered":"Budget 2021 avoids the investment required in public services and the economy"},"content":{"rendered":"<p><em>Covid-19 has refocused people\u2019s priorities \u2013 but this was not factored into Budget 2021<\/em><\/p>\n<p>Speaking in the D\u00e1il today, Social Democrats co-leader Catherine Murphy TD said that Budget 2021 underinvests in public services and the economy.<\/p>\n<p>Deputy Murphy stated:<br \/>\n<wbr \/><br \/>\n\u201cThe budget ignores the fact that Covid has focused public priorities\u00a0on\u00a0public services, particularly around health and housing. We were badly prepared for the pandemic, due to decades of low spending on services. This policy was presented as\u00a0prudent\u00a0but has turned out to be anything but.<\/p>\n<p>\u201cWe have underinvested in health,\u00a0housing,\u00a0childcare and disability in a way that was reckless. When the pandemic hit, we saw how exposed we were: for example, in terms of the number of ICU and hospital beds that were available.<\/p>\n<p>\u201cThe failure to invest has proven very costly. Housing has been funded with huge sums being paid through temporary measure such as\u00a0the Housing Assistance Payment. Instead, we should have been dealing with the cost of land and embarking on\u00a0a large-scale building programme of housing which is affordable to rent or buy.\u201d<\/p>\n<p>Deputy Murphy also criticised the failure to invest in necessary income supports.<\/p>\n<p>\u201cThe cut in PUP rates in September and the proposed cuts in January, as well as the proposed termination of the scheme,\u00a0not only creates an added layer of fear and uncertainty for those who are already struggling,\u00a0it has and will have a big impact in terms of the spend in the domestic economy.<\/p>\n<p>\u201cWe have two economies driving this State \u2013 we have the multinationals and we have the domestic economy. When we examined corporation tax receipts\u00a0at\u00a0the Public Accounts Committee in 2018, our attention was drawn to the fact that 70% of all corporation tax is paid by the top 100 companies and 37% by just 10 companies.<\/p>\n<p>&#8220;We need to rebalance the economy, including investing in balanced regional development. Budget 2021 misses the obvious opportunity to boost investment through borrowing at historically favourable rates.\u201d<\/p>\n<p><strong>October 14, 2020<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Covid-19 has refocused people\u2019s priorities \u2013 but this was not factored into Budget 2021 Speaking in the D\u00e1il today, Social Democrats co-leader Catherine Murphy TD said that Budget 2021 underinvests in public services and the economy. Deputy Murphy stated: \u201cThe budget ignores the fact that Covid has focused public priorities\u00a0on\u00a0public services, particularly around health and [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":1245,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[182,7],"tags":[],"class_list":["post-1259","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-catherine-murphy","category-press-release"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Budget 2021 avoids the investment required in public services and the economy - Social Democrats<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.socialdemocrats.ie\/budget-2021-avoids-the-investment-required-in-public-services-and-the-economy\/\" \/>\n<meta property=\"og:locale\" content=\"ga_IE\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Budget 2021 avoids the investment required in public services and the economy - Social Democrats\" \/>\n<meta property=\"og:description\" content=\"Covid-19 has refocused people\u2019s priorities \u2013 but this was not factored into Budget 2021 Speaking in the D\u00e1il today, Social Democrats co-leader Catherine Murphy TD said that Budget 2021 underinvests in public services and the economy. 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