| Click for the Finfacts Ireland Portal Homepage |

Finfacts Business News Centre

News Main Page 
 Asia-Pacific Business Week


How to use our RSS feed

Web Finfacts


Finfacts is Ireland's leading business information site and you are in its business news section.

We provide access to live business television and business related videos from: Bloomberg TV; The Wall Street Journal; CNBC and the Financial Times. Click image:


Finfacts Homepage

Global News

Bloomberg News

CNN Money

Cnet Tech News


Irish Independent

Irish Times

Irish Examiner

New York Times

Financial Times

Technology News





News : Irish Last Updated: Dec 19th, 2007 - 13:17:15

Fianna Fáil launches plan to create 250,000 jobs over next 5 years
By Michael Hennigan, Editor and Founder of Finfacts
Apr 18, 2007, 14:12

Email this article
 Printer friendly page

¼ million jobs for growing workforce through investments in research, upskilling and supporting firms

"Plan Shows How Ireland Can Be Leading High-Pay Economy"

Fianna Fáil today released its jobs and enterprise policy for the next five years showing how the party proposes to help create high-paying jobs for a growing workforce.

Called Keeping Ireland Working - The Next Steps Forward, the plan was launched by Enterprise Minister Micheál Martin and Finance Minister Brian Cowen and sets out a series of initiatives designed to support firms to grow and workers to take higher-paying jobs.

Speaking at the launch, Minister Martin said that while 600,000 jobs had been created under recent Fianna Fáil-led governments, further steps are required to help firms compete and win in the global economy.  

He said the numbers entering the labour force each year meant we must keep working on creating jobs.  

He went on to outline details of the party’s plans, including major investment in research, support for smaller businesses trying to grow and sell in export markets and a programme to upskill hundreds of thousands of workers.

Martin said that local government levies should not be imposed without account being taken of their impact on enterprise. He said that local authorities are adequately funded without needing to increase commercial rates.

Finance Minister Brian Cowen explained that the objectives in the plan were also based on implementing sound economic policies.  

He confirmed that the measures proposed are to be fully funded through the National Development Plan.

Cowen said that the protection of the 12.5% corporation tax rate is only safe in FF hands even though the Labour Party's Ruairi Quinn proposed the measure to the European Commission when he was Minister for Finance.

The ministers said Fianna Fáil intends making jobs and enterprise a core part of its campaign and that neither Fine Gael or Labour have included even a mention of jobs in their basic platforms.

Finfacts Comment: I said to Minister Martin at the press conference, that while the proposals in the document are laudable, they will have a minimal impact on economic activity in the coming five years.

Referring to the baseline year 2006, which was an excellent period for economic growth in Ireland and in the global economy, only 6,000 jobs of the total of 86,000 that were created in 2006, were in the tradable goods/service sectors of the economy and I asked for comparable figures for the coming 5 years. No figures were given.

Given the limited size of the indigenous tech sector with no firm having annual revenues of more than $100 million and the fact that 92% of exports are made by foreign firms, I said that it looks that our strong dependence on foreign firms for growth will continue. However, in 2006, Irish exports only increased in US dollar terms by 3%, the lowest of the top 30 of the world's exporters. So, the challenges for the foreign-owned sector are also high.

Nobody mentioned the fragile property market, which is also key to continued high employment levels. 

Various related articles can be found here.

-Michael Hennigan

© Copyright 2007 by Finfacts.com

Top of Page

Latest Headlines
C&C reports plunge in UK cider sales; Revenue and profit margin to fall 10% in year to February 29, 2008
Shannon Development calls for urgent national launch of high-speed fibre Broadband infrastructure across Ireland
Irish SMEs can reduce costs by adopting Green IT
Irish construction employment fell 5.4% in year to November 2007 - actual job losses were about 15,000
Two Dublin Firms "score major deals" during South Africa Trade Mission
Dublin Airport: DAA to start work on €55m extension to Terminal One
Forfás says Employment in IDA and Enterprise Ireland client firms grew by 1,187 in 2007; Over 18,500 people were employed in research activities across Ireland in 2007
Wyeth Ireland invests €5 million in Dublin and creates 24 jobs
Irish Consumer sentiment fell slightly in December 2007
Aer Lingus begins Belfast-London Heathrow service; Ryanair's Michael O'Leary visits Shannon on last day of Aer Lingus service to London
Martin welcomes over 50 Irish Firms on South African Trade Mission
Irish Construction: December data signalled record falls in activity - housing, civil engineering and commercial sectors
Britvic Ireland to cut 60 jobs in Cork
Irish Live Register increased 2,100 in December; Grew 14,987 in 2007 to 171,800 at end of December
Irish Public Service Benchmarking Body Report: Increases recommended for just 15 of the 109 grades examined
Irish Financial Services Ombudsman says complaints increased 15% in 2007
Nuclear Power in Ireland: Government calls for a debate without a deadline to avoid having to make decision
Irish Industrial Sector had best year in 2007 since 2002
Irish National Employment Rights Authority carries out 14,000 inspections; Recovers €2.5m in arrears for workers; Martin launches "major publicity campaign"
Horizon Technology hit by falling revenue and bad debt provision increase of €0.8 million