Fianna Fail policy on the Economy

Fianna Fáil in government is working through the current period of economic transition and uncertainty to ensure that the vision and goals set down in Towards 2016 can still be achieved.

We are building to stabilise the public finances and improve competitiveness, supporting those who become unemployed, and supporting Irish business and multinational companies.

We are building for the future through investing in research and development, incentivising multinational companies to locate more R&D capacity in Ireland, and ensuring the commercialisation and retaining of ideas that flow from that investment.

Fianna Fáil believes that we must restore stability to our finances in order to achieve economic recovery. The tough decisions that are taken are necessary to safeguard the gains that have been made in the past two decades.

Fianna Fáil is fully aware of the importance of investment for Ireland’s future economic well-being. Our goal is to maintain our position as an attractive destination for investment. The Framework for Sustainable Economic Renewal (December 2008) shows Fianna Fáil’s determination to meet the severe short-term challenges we face. It also shows our determination to introduce the changes which will ensure that Ireland emerges from the global downturn in a position to benefit strongly from revived international growth.

We will maximise the potential for growth by building on our strengths in innovation and research and development; address the huge market for environmental and energy-related products, services and innovation; invest in critical infrastructure and support more employment-intensive activity; and reform the Government’s programme to have a more efficient and effective public service supported by good regulation.

Fianna Fáil is maintaining the largest capital investment programme in Europe. Our spending on capital is over 5% of GNP – the appropriate stimulus package for a country facing difficult economic times. Fianna Fáil will continue to invest in roads, public transport, schools and social housing in an effort to provide a necessary stimulus for the economy.

Ogra Policy Document – UCD, April 2009