MCNARRY: Deal is like a third-world bail-out

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David McNarry MLA, UKIP’s leader in Northern Ireland, commenting on today’s deal between the Executive parties and the two governments, has said :

If they couldn’t even handle the block grant and budget why would anyone have confidence in their ability to handle £2 billion of loans ?

“This deal is worse than a second mortgage piled on top of the block grant which is already being abused and mismanaged by the Executive. It is like a third-world bail-out with massive repercussions which will last well, beyond the 10 year time frame. No-one trusts the Executive who have been wilfully operating a financial black hole for more than the past three years. Borrowing £2 billion means selling the family silver like Belfast Harbour and manipulating the introduction of water charges and means testing for prescriptions and concessionary fares. History will write that not one squeak was made on any issue being a deal breaker. What the Executive signed up to is a five party contract binding them all to a manifesto for the next 10 years. If they couldn’t even handle the block grant and budget why would anyone have confidence in their ability to handle £2 billion of loans ? It remains to be seen what their plans are next time the well runs dry. Roll on the Assembly elections.”

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