Economy

Single state banking system allied to other radical job creation policies the only way to prevent jobs massacre in the financial sector

A fighting lead from the IBOA is an absolute must – no job losses should be accepted – a fundamental challenge to the logic of mass redundancies in the financial sector is needed

Responding to the announcement of massive job cuts in Ulster Bank today Clare Daly TD said:

“The speculation that the corporate division of the bank is where the axe will fall heaviest is yet more proof that the austerity policies combined with the inability of small businesses to access credit are destroying jobs.

“I support the demand of the IBOA that the companies books be opened so that the workers side can scrutinise the claims of the company. No job losses or attacks on conditions should be conceded by the IBOA leadership. A fighting response is what is needed.

“Ordinary bank workers in Ulster Bank, like workers in Aviva and other financial and insurance institutions are innocent victims of the crisis for which their bosses, governments past and present and speculators are responsible.

“It is clear that a privately owned financial institutions and the essentially privately run in the case of the bailed out banks are not fit for purpose when it comes to providing credit for small businesses and protecting jobs.

“The Socialist Party calls for the real nationalisation of the financial sector and the creation of a single state bank whose purpose is the safeguard deposits and provide credit to productive enterprises. Such a bank should be shorn of any speculator debt and be run democratically under workers control and management.

“Such a policy only makes sense if all the other austerity measures are ended and a programme of emergency public works funded through a wealth and assets tax puts thousands back to work and rebuilds economic life.

“Anything short of these policies means an ongoing acceptance of the jobs massacre. The time has come for the trade union movement to challenge the logic of mass redundancies in the financial and other sectors and back a radical alternative to protect and create jobs.”

Worker's Rights

Socialist Party TD Clare Daly calls for support for La Senza workers in Liffey Valley Shopping Centre
Responding to the occupation by workers of the La Senza lingerie outlet in Liffey Valley Shopping Centre following the sudden announcement of the firm’s closure of all its Irish operations Socialist Party / United Left Alliance TD Clare Daly said:

Like Vita Cortex and Lagan Brick and countless previous examples since the crisis began here we have another situation where workers are treated with utter contempt.

With no arrangements for redundancy and no opportunity for the workers to be involved at looking at options to save their jobs the occupation of the shops in Liffey Valley is 100% justified. Workers from the closed outlets in Grafton Street and Dundrum have joined their colleagues in Liffey Valley.

These workers deserve the active support of their community and workers everywhere. Ways of forging links with workers in the closed chains in the North and Britain should be found so that maximum organised pressure can be put on the company.

The determined stand taken by these workers demonstrates that the ground for a massive unionisation drive in the retail sector is very fertile. Our trade union movement must be equal to the task.

“It is also becoming increasingly obvious to workers that militant tactics are required to protect their rights. The principles of the global occupation movement have found there way into the popular consciousness of workers in Ireland which is something the Socialist Party welcomes

Uncategorized

Economy

The Bill before us is relatively straightforward. Its purpose is to ratify changes to the IMF articles of agreement. However, we must first step back and examine the role of the IMF. It is clear that the IMF is not a neutral international economic advisory committee. The allocation of quotas and voting rights in the IMF, far from being about democracy, are structured in a manner to preserve a totally unjust economic system and to prevent any attempt by the majority of the world’s population to share in the wealth they create and to end poverty and hunger.

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