Politics

McGuinness rejects Goldman Sachs claim that Sinn Féin is a threat to economy

Deputy First Minister says the party has brought foreign investment into the North

Martin McGuinness described the comments as ‘total nonsense’ and said Sinn Féin’s has made significant contributions to the economy in the North. Photograph: Dara Mac Donaill / The Irish Times
Martin McGuinness described the comments as ‘total nonsense’ and said Sinn Féin’s has made significant contributions to the economy in the North. Photograph: Dara Mac Donaill / The Irish Times
Amanda Ferguson
Sat Mar 21 2015 - 01:00

Martin McGuinness has rejected suggestions by Goldman Sachs that Sinn Féin represents the main threat to the growth of Ireland’s economy as “total nonsense”.

The Northern Ireland Deputy First Minister made the comment after the party launched its 1916 Easter Rising commemorative cvents programme for 2016.

Kevin Daly, a senior European economist with Goldman Sachs, said this week that political factors were now the main risk to Ireland's economic future. The London-based economist cited the increased popularity of Sinn Féin and its rejection of austerity, with policies similar to those of Podemos in Spain and Syriza in Greece. "The biggest risk now, in our view, is provided by political developments in Ireland," Mr Daly said.

Foreign direct investment

Mr McGuinness dismissed the idea. “I think that is a total nonsense,” he said.

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"It is flatly contradicted by the fact that here in the North, through the work that [First Minister] Peter Robinson and I, and Ian Paisley before him, have done. We have actually brought in more foreign direct investment to the North in the last four years than at any other time in the history of the state," he added.

“I think that Sinn Féin’s contribution to government in the North flatly contradicts that assertion.”

Crucifying

On the ongoing welfare reform negotiations between Sinn Féin and the

Democratic Unionist Party

, following his party’s withdrawal of support for the Welfare Reform Bill last week, he said the Conservative-led government in London was “effectively crucifying” the Stormont Executive.

Mr McGuinness said he was hopeful of an agreement “before the Easter recess” and was holding further negotiations with the DUP on welfare reform yesterday afternoon.

Sinn Féin's Easter Rising centenary events include parades in Belfast, Cork, Dublin, and Galway on Easter Sunday 2016. A new statue of one of the Rising's leaders, James Connolly, will be unveiled on the Falls Road in Belfast.

DUP Upper Bann MP David Simpson said Sinn Féin had “no united Ireland to celebrate” in its commemorations, except the presence of Sinn Féin representatives sitting in Stormont.

The anniversary is of “no relevance to the people of Northern Ireland”, he said, adding that the programme contained little aimed at building bridges across the community “That is hardly surprising,” he said.

In response, Sinn Féin MLA Chris Hazzard said his party wins more votes than the DUP. “Each of those votes comes from a republican who lives in the North and who holds dear the sacrifice made by those who fought in the Easter Rising of 1916,” he said, adding that Mr Simpson was being ignorant “in the truest sense of the word”.