Ruth Coppinger (Dublin West, Solidarity) | Oireachtas source

What we are seeing in the world economy right now is a historic turn-away from free trade and globalisation to protectionism, but it is a trend that has been under the surface for some time. The context for this is that post 2008 when the financial system collapsed and capitalist growth slowed, there has been an economic malaise in general and increased competition between the US and China. The multinational companies that Trump hopes will relocate to the US have done very well from globalisation but, nevertheless, the US economy has plummeted in recent years. The MAGA strategy is to bring industry home, to reindustrialise, and to trigger a ruthless pursuit by capitalism of a share of world markets over rivals.

It is disgraceful that the trade union leadership in the US has supported Trump in these plans because the interests of workers and the interests of the broligarchy that Trump has around him are completely and utterly different. I welcome the fact that protests have started to bubble up from the ground in many cities against Trump's attacks on democracy and economic rights. Tariffs of 46% have been imposed on Vietnam. It is pure folly to think that workers in the US are going to accept the pay and conditions that are forced on workers in Vietnam.

The Irish economic model is the topic of this motion. The game is up on the bubble in tax receipts and the tax haven economy that has been developed by successive governments over a period. Foreign direct investment is now under pressure and this model is in decline as a way forward for people. In terms of the impact on jobs in the Irish economy, it has been estimated that 30,000 of the 50,000 people who work in pharma here work in US plants. Paschal Donohoe has noted that between 50,000 and 80,000 jobs could be on the line, although this includes jobs that could be created going forward. It should also be noted that one company, Pfizer, has invested €7 billion in plants in Ireland, and it is expanding, so any impact is unlikely to be immediate. In a separate internal Government economic model seen by The Sunday Times, it was estimated that between 56,000 and 60,000 fewer jobs would be created. This will have a massive impact in rural areas as well.

Davy stockbrokers estimate that tariffs are expected to slow down the economy, in particular in the pharmaceutical and food and drink sectors. The main threat is expected to be internal challenges such as the housing crisis. The cost-of-living crisis is very likely to get much worse. Already, we have seen the Government put forward ideas like water charges, and it has removed the reduction of €1,000 in third level fees. There has been talk of taking away the one-off payments for electricity that helped some families in the most desperate situations.

How has the economic model that is so lauded by Fine Gael and Fianna Fáil in particular, but also many other parties in the Dáil, delivered for the majority of people in Ireland? We have a massive housing crisis. We have Third World disability services in many cases. Children with scoliosis have been suffering continuously for years. We do not have a decent public transport system. When we go to any other country in Europe we are embarrassed by the public transport system that we have. The idea that the economic model of relying on foreign direct investment, paying low or no tax in this country, has worked for the majority is not correct. Houses are completely unaffordable. Young people are taking the decision to emigrate.

It is vital that we begin to see workers who are threatened get organised. All workers are threatened but those in these industries are especially threatened. We reject the notion that workers should pay for the crisis in the form of their pay and conditions. The interests of ordinary people are not the same as those of the industrialists. We must also ensure there is a strong movement to oppose the neo-austerity measures that the Government will implement. Not one cent should be taken from public services such as health, disability, education and welfare. None of these services should pay the price for the crisis in global capitalism. Every job should be defended and there should not be pay cuts or price gouging, although we are very likely to see that. Prices have already started to increase. The Government must intervene. It has the legal power to control prices. It refused to do that during the recent cost-of-living crisis, but it must do it now. Instead of relying on the private sector and on multinational companies to come here, we must have a programme of public investment to create jobs where they are needed – in health and housing. We need a model of economic development that protects the environment while ensuring a rapid and just transition.

Pharmaceuticals and tech are sectors that can provide socially useful essential goods and services. They must be repurposed and geared towards satisfying the needs of people, here and internationally. We need State intervention to defend and create jobs. We cannot rely on multinationals and the profit motive to deliver jobs and security. Essential industries should be taken under public control to defend jobs as well. In no way should ordinary workers pay the price. The Irish trade union movement has not responded in any way to this threat. To use Trump's phrase, it is time for the unions to make themselves relevant again. Even where workers are not in unions, they should come together and discuss how they can organise against what is likely to face them down the line in workplaces and also in communities. I refer to water charges and one-off payments. All of the things that are threatened should be resisted. I believe that they will be by communities and workers as well.

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