Job creation schemes? You’d be better off handing out €10 notes on O’Connell Bridge.

I’m always dubious about the phrase “job creation” when uttered by someone in government. The latest appearance of the dreaded remark is with regard to proceeds from privatisation. I have no problem with some of the money going to assist in job creation, I just have no faith that most of it won’t be squandered on civil servants administering it. At this stage, it would make better sense to take the money and pass it on to taxpayers as time limited vouchers to be spent on labour intensive services like tourism and catering in Ireland or home improvement (disclosure: I work in the industry). At least it could act as a domestic stimulus package for the private sector, which is where it is needed, and whilst some of the money will leak on imports, I still reckon more will end up in the job creating/maintaining part of the economy. Given our increase in savings, if it goes on civil service pay, a large proportion of it will be sensibly squirreled away, which is not what we need. We need that money in the domestic retail economy, where the biggest job creation bang for our buck is most likely.

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