Juncker plan completely lacking in substance

BudgetsThe European Parliament has voted in favour of the European Fund for Strategic Investments (EFSI) also known as the Juncker plan.

Commenting on the outcome of the vote today Liadh Ní Riada, Sinn Féin MEP for Ireland South who was the shadow rapporteur of this file said:

“I have stated from the outset that the Junker plan does not go far enough. Yes, we do of course welcome real investment but the ESFI does not represent real investment. More importantly, it does not address the gaping hole we have in public investment as a result of continuous austerity policies.

 “History is repeating itself. The plan is simply lining the pockets of the wealthy elites yet again. This is not going to make any difference to the bread and butter issues impacting the people at home in Ireland

 “The socialisation of the cost of the EFSI has not been addressed in any meaningful way. The real impact on people will involve increased costs of basic services such as water and energy. This is to guarantee bigger profit margins for the wealthy.

 “The fact is that the Juncker plan is an inflated plan. €2.7 billion from Horizon 20/20 and €3 billion from the connecting Europe Facility was going directly into the EIB already before there was any Junker plan. This is just rearranging the jigsaw pieces, a window dressing completely lacking in any real substance.”

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