Annual Cost Of Live Register In Cobh Now €24,680,000 – Mulvihill Snr

The CSO figures showing that that the Live Register figures for August remain at record high levels is an indication of the continuing seriousness of the jobs problem and the total failure of this Fianna Fáil/Green Party government to make any significant progress in tackling the unemployment crisis.

The numbers on the Live Register have increased by an incredible 313,000 since this government was formed in May 2007.

In Cobh , there are 1234 unemployed.  With every person out of work costing the Exchequer around €20,000 in terms of tax foregone and additional social welfare payments in Cobh alone the cost is  €24,680,000.
The number of people under 25 years category there are 254 unemployed.

The combined cost of the bank rescue and the huge numbers out of work is strangling the Exchequer and delaying our prospects of economic recovery.

While the government proposals to allow 10,000 people on the Live Register to do some paid work in the community have some merit, this would only be the tip of the iceberg.

The Labour Party has proposed a series of job creation initiatives including:

– A Strategic Investment Bank which would use €2bn, less than 10% of the total, from the National Pension Reserve Fund to support commercial investments of up to €20bn in critical infrastructure projects and innovative start-ups and SME.
– An SME Working Capital Guarantee Scheme which would ensure that viable small and family businesses can get the loans they need.
– A €1.15bn jobs fund to support training schemes and labour intensive capital investment.
– A Graduate & Apprentice Programme which would guarantee relevant, work-based training and an opportunity to obtain new qualifications for all young people out of work.

This difference that these policies wowld make to the 1234 people would give them hope and a focus for their future.