Boyd-Barrett needs to explain how we would pay for our schools, hospitals and public services – Donohoe

1st May, 2012

Fine Gael Dublin Central TD, Paschal Donohoe, has this evening (Monday) said that Deputy Richard Boyd Barrett needs to explain how we would pay for our schools, hospitals and public services if we vote No in the Stability Treaty Referendum. Deputy Donohoe was speaking after Deputy Boyd Barrett said we should reject our current bailout and any future funding.

“If Deputy Boyd Barrett really believes we should reject our existing bailout and any funding we may need in the future, he needs to explain how we would fund our public services. How would we pay our teachers, nurses and Gardaí? How would we fund our schools and hospitals?

“The reality is that if we turned our back on our current bailout programme we would be forced to make €16 billion in cuts; that’s the gap between how much we take in in taxes, and how much we spend running the country. Cutbacks of €16 billion would be far worse than anything already experienced by the Irish people.

“Those calling for a No vote in the Stability Treaty Referendum want us to take a leap into the unknown. Not only would a No vote threaten the stream of inward investment coming into the country, it would cut us off from Europe’s new bailout fund should we ever need to access it.

“The IMF is currently lending us money in conjunction with our European partners. There is nothing to suggest that the IMF would decide to lend us money in the future on their own if we turn our back on Europe.

“Those opposing the Treaty cannot name one good thing that would be achieved by voting No. On the contrary, if we vote Yes, we are saying Yes to investment, stability and recovery. A Yes vote means we will remain at the heart of Europe, and it will send out a crucial message to job creating international investors that Ireland is a great place to do business.

“By voting Yes and ratifying the Stability Treaty, we are accepting the insurance policy of Europe’s new bailout fund; by voting Yes we are ensuring that funds will definitely be available to us it should we ever need them. This will help to bring stability, investment and recovery.”