September Live Register Figures Up 10,000

Figures released by the Central Statistics Office have revealed a huge rise in the number of people on the Live Register in the past month.

The agency says almost 10,000 more people were claiming benefits last month compared with August.

The latest statistics suggest Ireland's level of unemployment has doubled in the past year to 160,000, and now stands at 6.3%.

However, the government is hoping its recent announcement of financial packages for business can begin a turn around in Ireland's fortunes.

On Wednesday, the Green Party leader John Gormley said he believed the Government is taking the right action at the right time by guaranteeing all the deposits of the six Irish-owned banks.

Although critics are describing the new government bill as a panic measure, giving a blank cheque to those whose irresponsible lending practices have left the banks in a precarious position, Mr Gormley said he believed the solution was innovative and other countries were looking at Ireland with admiration.

Fine Gael's Richard Bruton however argued there are still glaring gaps in the Government's plans to introduce a bank guarantee scheme following their announcement.

"This morning we asked the Government some basic questions regarding their proposed scheme to guarantee bank deposits and hoped to get some answers this afternoon in the Dáil. The response from Government to date has not inspired confidence and key questions remain."

In response to the Oireachtas wranglings over the decision, the Tánaiste, Mary Coughlan, said the entire banking system in Ireland would have collapsed if the emergency legislation was not brought forward.

(DW/JM)