FG Wilson axes 760 jobs while doubling its profits

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The major job losses will affect Belfast and Larne which is already struggling with decades of under-investment and high employment.  FG Wilson has received a staggering 12 million in various state handouts via the quango Invest NI, and last year doubled its pre-tax profits to £7.8m. Caterpillar’s share price rose by 1.2% after the announcement on Thursday. According to one inside source who spoke to the Belfast Telegraph ‘That 1.2% rise would have kept the people they were going to sack in a job,” (1)

Despite these latest job losses and further erosion of the manufacturing sector, once considered the cutting edge of the local economy, our local politicians of all stripes and colours are united in their quest to lower the corporation tax in line with the Irish Republic’s at 12.5%. The axing of 760 jobs by FG Wilson last week is not only a devastating blow to the concerned workers, families and wider community but is another indication of a bankrupt local economy build on subservience to the greedy few and multi-national companies.

Our rulers are clearly living in fantasy land if they believe a reduction in corporation tax will results in thousands of jobs being created. The example of the south highlights this. 

We only need to lift the dirt under the carpet to find this bright new shiny Northern Ireland and its local masters are only concerned with providing blank cheques for the greedy few while the rest of us are left out to dry. The question is what are you going to do about it?  In the words of Mother Jones we are left with little choice but to ‘fight like hell for the living.”

1) http://www.belfasttelegraph.co.uk/news/local-national/northern-ireland/f...

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