Job protection should be central to Govt Brexit response
Labour Party leader Brendan Howlin T.D, has said that jobs and the economy must be protected in the event of a hard Brexit.
The party launched its Alternative Budget for 2020 this week, with job protection in light of a no- deal Brexit, a central feature.
Deputy Howlin commented:
“Labour agrees with the decision to prepare Budget 2020 on the basis that the UK may well leave the European Union without a deal, which would have immediate and serious consequences for the economy. However, Labour wants the Government to take a much more active role in the economy to protect the jobs and businesses that are most at risk.
“Labour would allocate €1 billion from existing cash reserves or the Ireland Strategic Investment Fund, so that the government is ready on the 1st November to allocate resources to protect jobs and livelihoods. The last crisis taught us that it is easier to save existing jobs and businesses rather than create new ones, and where jobs are lost it is essential to help people get back into work as soon as possible.
“In the event of a sudden exit of the UK from the UK, Labour would fund a short-time working scheme for vulnerable sectors, to prevent redundancies, provide 0% loans to vulnerable businesses, provide emergency relief to farmers cut off from the British market and to make sure there is money available for training, so that workers can prepare for new jobs.
“If there is a prolonged period of economic stress before a new EU-UK trade deal is agreed, Labour would draw on a further €2 billion from the state’s reserves to make clear our intention to save as many jobs as possible.”