SME and Job Agency Propaganda

Propaganda from Government, banks and agencies on job creation and credit to SMEs

( I wish I could call it b…shit) (SME = small and medium sized enterprises)

Figures From Damien Kiberd – the Ranelagh Sage

2009 – credit to SMEs was €32 billion (-3.6%)

Now AIB/BoI have promised new €12 billion credit until end of 2011 (up 39%)

AIB has a €13 billion SME loan book at end 2009

Now a promise of + €6 billion (up 46%) (Yes lads Statues will move!!!!)

At present 35% of SMEs with loans were defaulting on repayment schedules.

Real economy had contracted by 20% during the depression.

Loan applications from SMEs for first quarter of 2010 were -17% compared to
Q1 2009.

The Innovation Task Force claimed that high-tech start-ups would generate
117,000 jobs at the lower end of expectations but No costings, no
timeframe or budget.

IDA Horizon 2020 Plan promised 105,000 jobs by 2014.

FAS suggested another 250,000 jobs by 2015

Enterprise Ireland promised 60,000 jobs by 2015

How can any state create thousands of jobs when the budget deficit is being cut from 11.5% of GDP to 3%.

In the decade to 2009, employment in agency-assisted foreign owned firms fell by 27,000 to 139,000

In Irish owned firms the decline was 20,000 to 133,000 at the end of last year.

In reality, the recession (depression) has cost us 300,000 jobs.