A Yes vote will help protect the jobs we have and create the jobs we need

Fine Gael TD for Dublin North Alan Farrell, has said that a Yes vote in the upcoming Stability Treaty Referendum will help protect the jobs we have and create the jobs we need.

“Voting Yes on May 31st will help us build a working Ireland. By voting Yes, we are saying Yes to investment, stability and recovery. A growing number of business groups have come out in support of the Treaty this week, because they understand it is necessary if we are to build on the confidence and recovery that has been established over the last year.

“Groups operating in the real economy – like the Small Firms Association, IBEC and the Irish Hotels Federation – all understand that the Treaty makes good business sense. They understand that it will provide the certainty that Ireland needs if we are to continue to grow jobs and attract inward investment.

“Just this week, we saw the announcement of another 250 new jobs in Dublin and Galway, by the German software firm SAP. Foreign Direct Investment (FDI) is a vital source of jobs here. More than 250,000 people are employed either directly or indirectly by the sector. These same companies account for about

€19 billion in total spend in the Irish economy, and about €115 billion in exports.

“FDI companies have created thousands of new jobs here so far this year. If we want to maintain this positive stream of inward investment, we need to ensure we have the conditions necessary to foster growth. Voting Yes to the Stability Treaty will provide the certainty needed to increase investment and grow jobs.

“The Stability Treaty creates certainty for two main reasons; it promotes sensible budget rules in Ireland and other Eurozone countries and it offers us access to the ESM, Europe’s new bailout fund, should we ever need it. These two factors show job creating investors that we are serious about controlling our finances, and that we are fully funded into the future.

“There are many positives to voting Yes. But it’s also important to dispel some myths about the Treaty. The Stability Treaty will have no effect on Ireland’s low corporation tax rate; in fact the word tax is not included in the Treaty document. The Treaty will not threaten our sovereignty; the complete opposite is true. By voting Yes to the Stability Treaty and the certainty it brings, it will make it easier for Ireland to re-enter the financial markets quicker, and regain full control of our finances.

“Ireland still has a lot of work to do. This Treaty will help us get there. For a working Ireland, I am strongly advocating a Yes vote.”