Coronavirus: Bailout for workers needed
Bailout for workers needed
No job losses and full pay for anyone unable to work due to Coronavirus
“As the Coronavirus crisis deepens, both the health and living standards of workers and their families must be protected”, says Paul Murphy TD.
“At least 140,000 have been laid off already, but the real figure is undoubtedly higher. It could take weeks to process this number of unemployment claims, so a moratorium must be imposed on all rent, mortgage, utility and other bill payments. No one should be evicted, have utilities cut off or have non-payment procedures initiated against them.
“In Denmark, the state has intervened to prevent mass lay-offs, with workers to receive full pay with the state paying 75%, and employers paying 25%. Similar measures are needed in Ireland to ensure no job losses and full pay for anyone unable to work due to the impact of the Coronavirus, including the ill, those whose workplaces have closed or lost business, parents with childcare responsibilities, and those who self-isolate.
“With predictions of 15,000 people infected by the end of the month, and the impending total collapse of travel, tourism, arts and entertainment industries and the likely closure of non-essential shops, prolonged layoffs will rise. The proposed weekly pay of €205 is way too low, especially since the proposed sick-pay is to be €305 per week. Even the current Short-Term layoff benefit is €81 per day or €405 a week – nearly twice what the government is proposing.
“There should be mandatory full payment of wages for the duration of lay-offs, sickness, care needs or self-isolation. Instead we see governments, the IMF and the ECB putting huge amounts of money into the speculative finance industries, amounting so far to $2.1 trillion in the USA and proposals for up to €900 billion in the Eurozone – to try and stave off recession.
“Rather than bailing out bankers again, money should go to ordinary people to sustain their jobs and their standard of living – and keep the real economy going. To fund this, the €1.3 billion in interest payments on the national debt that results from the bank bailout should be suspended immediately. The government should also drop the Apple tax court case and seek access to the €14.3 billion in the escrow account to use for this national emergency. An emergency millionaires tax of 2% on net wealth exceeding €1 million should be imposed.
“Big companies should pay workers' wages from their reserves; smaller companies or those in difficulty should pay wages and receive a state rebate based on proven need. Banks should be immediately instructed to provide loans to pay wages.
“There should be a general opening of corporations’ books – so that both workers and the state know what's really happening. If workers are laid off or redeployed, there must be no attempts to undermine working conditions or entitlements.
“We are heading into a crisis of dangerous infection and potential economic collapse. Things cannot be let continue in the old way – where the impact upon health and living standards falls heaviest on those least able to bear it. Providing full pay and retaining jobs is the best way to both reduce the mortality rate and avert a deep recession.”