Recent Central Bank figures on mortgage arrears reveal an enormous crisis brewing. With all of the focus on the hundreds of austerity measures this government are implementing, the relentless rise in mortgage arrears numbers has, so far, not gotten the attention it deserves.
SOCIALIST POLICIES are needed to solve the economic crisis and its devastating effects on the living standards and lives of ordinary people.
Socialist policies are relevant to the key problems facing people today, the draconian pay cuts, the housing crisis and looming mortgage crisis, the vicious cutbacks in health and education, and crucially the emergence of mass unemployment.
The tax hikes in the budget represent a universal pay cut and are part of an overall desire of the government and bosses to slash general wage levels by up to 20%. They are intent on imposing a race to the bottom. The Quick Service Food Alliance, which is made up of the main fast (bad) food outlets, are attacking some of the lowest paid workers, demanding that they give up payments for Sunday working etc. The minimum wage is also being attacked and undercut by bosses.
The Budget will, if the Government gets its way, mark the first of four where working people, the unemployed and those who depend on public services will be crucified over an economic crash they did not cause. The palpable anger this is causing in society generally can be seen in the threat by the Garda Representative Association to ballot for industrial action.
Following the initiative of Joe Higgins and the other left Members of the European Parliament to organise a European Week of Action in June against the cuts and bank bailouts, the idea of the need for a continent-wide response from workers to the crisis has taken a firmer hold with the call by the European Trade Union Confederation (ETUC) for a day of protest on 29 September.