EU Budget 2016 lacks substance and undermines investment

Speaking following a Budget Committee meeting in Brussels today, Sinn Féin MEP Liadh Ní Riada MEP expressed her disappointment on the lack of detail given by the Commission in its adoption of the European draft Budget for 2016.

“Given that there has been so much emphasis on investing in jobs growth and employment, it seems to me to be very hypocritical of the Commission to commit to growth while at the same time reducing the amount of payment commitments to this sector.

“I can only assume that they are banking on the much famed Juncker Investment package to shore up the losses that the SME sector will endure. They also state that the Connecting Europe Fund and Horizon 20/20 as well as the Youth Employment Initiatives are high priorities. If this is the case then why have these specific funds been cut? Why is the Commission raiding the CEF and Horizon 2020 to underwrite the Juncker plan

“It is also apparent that some EU programs are still suspended while waiting to be paid, and that the monies allotted to these are being used to pay off unpaid EU bills. In true Commission style addressing the root of the problem is not a priority. Instead it is business as usual; shoring up the banks, shoring up the private investors and leaving those most in need starved of any real investment.

“If Ireland and Europe are to witness real growth and real recovery, targeted, sustainable and transparent investment needs to take place. Robbing Peter to pay Paul will not cut it.”

[ENDS]

Liadh Ní Riada is the Sinn Féin MEP for Ireland’s South constituency. She is a co-ordinator on the European Parliament’s Budgets Committee.