Editorial
Capitalist madness
There is no doubt that most right-minded people in both Northern Ireland and the Republic would have welcomed the breaking of the impasse at the Hillsborough Castle talks here last week.
Unfortunately, while everybody's attention was focussed on that, a company that has operated in Belfast for fifty-five years announced its closure, with a total loss of 364 jobs, whilst another 140 jobs are under threat at Monskstown.
Texas-based Hughes Christensen, formerly known as Hughes Tools and part of the worldwide Baker Hughes corporation, established a facility in Northern Ireland in 1954 and as recently as 2007 was recruiting extensively as well as opening a new department in 2008 to produce its diamond bit product. In October 2008 a Baker Hughes spokesman told the Belfast work force that the company was in a good position and “had a billion dollars in the bank.”
In Monkstown the 140 workers are employed by another US company, Avaya, which bought the better-known Nortel telecoms company in December last year, an acquisition hailed by the Minsiter of Enterprise, Trade and Investment, Arlene Foster, as a positive development, although Unite only gave it a cautious welcome. As is usual after some agreement is reached here, the question of US investment comes onto the agenda, and the usual promises are forthcoming and, as per usual, do not materialise.
According to one recent survey, firms in Northern Ireland have reported that January 2010 was their worst month since last summer, with unemployment expected to keep on rising as well as personal and company bankruptcies.
In the Republic the government has instituted severe cuts of 10% in child benefit, 15% in public-sector pay, over 4% in unemployment benefit—50% if you are young—and on top of this has raised prescription charges by 50%. Such is the outrage that the police have even come out in opposition. A spokesman for the Garda Representative Association made the pertinent point that whilst public sector pay was being cut and moves were afoot to reduce the minimum wage in the private sector, taxation for the rich remains voluntary.
The answer by one right-wing economist, who also chairs the “Love Irish Food” campaign, is to condemn those who have the audacity to shop in the North, claiming that the “Tescoisation” of Irish consumer spending would lead to further emigration.
Shopping in the North might be a little example of Irish unity. We should expand on it and oppose the capitalist madness. |