Fine Gael Mayo TD John O’Mahony has stated that a Yes vote in the upcoming Fiscal Compact Treaty referendum will help protect jobs we have and create jobs we need.
“Voting Yes will help us build a working Ireland and say yes to investment, stability, and recovery. 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 and will provide the certainty 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.
“The 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.”
Dep O’Mahony also called on agri-businesses and those involved in the food and drink industries to back the treaty, stating it would have a positive impact on exports, trade, and CAP negotiations.
“I strongly believe a Yes vote is vitally important for the agri-food sector as it will deliver certainty around recovery, investment, and the future of this country. Agriculture is the good news story of the Irish economy at the moment, with bumper exports and major opportunities emerging in China and other markets. If we want to continue to drive this progress, we need to ensure we remain at the core of a strong and stable economy.
“Thanks to EU membership we have free access to half a billion consumers across Europe. As a small country with a very significant interest in the outcome of the CAP, now is the time to ensure we maintain our goodwill and influence as a strong and vocal member state during the negotiating process. This will help us deliver the best possible outcome for Irish farmers.
“The Irish Farmers Association has already backed the treaty because the organisation understands it is in the best interests of the farming community to vote yes to stability, investment, and recovery.”