INDEPENDENT general election candidate James Fanning believes that to stimulate the economy and create jobs money needs to be redirected instead of it being wasted on banks and state agencies.
Mr Fanning commented, “The banks’ debt is private debt and should not have been forced onto the taxpayer.
“Bondholders should be forced to swap debt for equity and no more money from the state should be put into the banks. If the EU is not willing to renegotiate the loans and continues insisting that we have to pay the bondholders, then we must threaten to leave the Euro-zone and re-establish the punt.
“In such circumstances we must make it known that the EU will carry the can for the banks and not us. It will take a brave politician to do this, but it needs to be done.”
Mr Fanning believes that on a local level, there are plenty of opportunities if the money is just used smartly rather than being squandered. “How can we have a smart economy in the Laois/Offaly constituency if we don’t have the technical colleges and young students that are needed to drive innovation and the new industries of the future?
“Instead of money just going into FAS, it should be used to establish new colleges in the Laois/Offaly area.”
Mr Fanning pointed out that there seems to be a disconnect between what FAS is doing and what businesses actually need. He said the majority of companies that receive Grants from Enterprise Ireland are for new start up companies.
“This is fine in theory, but in practice two-thirds of start ups fail. Whereas an established business with a platform already should be encouraged and helped to adapt to changing economic times.”
He wants a grant incentive for the unemployed to be introduced. “Instead of them just being on the dole, companies can be encouraged to employ them with the costs split between the state and the company. It could be a back to work scheme’.
Mr Fanning concluded, “I am very interested in hearing people’s views. If you want to express your views please email me at Fanning4independent@eircom.net