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21st May 2020 | Coronavirus, Enterprise, Finance

Cooperatives should be an integral part of rebuilding our economy

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Speaking in the Dáil yesterday Neasa Hourigan, Finance Spokesperson for the Green Party, called for the cooperative business model to form a part of our rebuilding efforts post Covid-19. This model of community based businesses ensures our economic activity is guided by the principles of economic democracy and is rooted in the interests of local communities.

Deputy Hourigan, TD for Dublin Central said:

“We are potentially heading into one of the worst recessions in our State’s history. Now is a time to act, but we must also take time to reflect on how we organise our economy and to find new ways to build a better, more environmentally conscious, more equitable society. The cooperative business model should be an integral part of rebuilding our economy post Covid-19.

“Cooperatives are run according to the interest of their members rather than some unknown, disconnected shareholder. They serve the interests of those they employ and those in the communities around them. Studies in the UK have shown cooperatives create higher profits, higher levels of job satisfaction and productivity for employees, and compared to conventional businesses, cooperatives have lower rates of pay inequality.

“Cooperatives are better for workers, better for consumers, and better for communities. They must form part of the foundations of our efforts as we move forward.

Further information on Deputy Hourigan’s views on cooperatives can be found on: https://neasahourigan.com/post/cooperatives/