Minister Michael Noonan addressed the Bloomberg Ireland Economic Summit this morning in Dublin. Below are some key points from the Minister’s speech:

• The first reason to vote Yes is that the Treaty promotes good housekeeping and passing of the Treaty will prevent future Governments from spending and borrowing excessively from future generations to finance reckless and unsustainable budgetary policies. 

For Ireland, this will mean legislating to introduce fiscal rules that will require future Governments to run sensible and sustainable budgets, and to put in place an agreed plan to reduce the debt ratio to 60% of GDP over time.

We cannot let the crisis of the past define Ireland’s future and I strongly believe that we must learn from the mistakes and put in places rules to avoid making the same mistake again. These rules will ensure that never again a Government will be able to increase current expenditure on the back of growth in unsustainable tax receipts from, for example, property bubbles.

• The second reason for voting Yes relates to attracting Foreign Direct Investment in Ireland and the jobs it creates. The multinational sector in Ireland employs over 140,000 directly in factories and offices across the country and this number is growing each year. Ireland has much to offer multinational companies.

This key sector is proving yet again to be a key driver of job creation and following on from record levels of investment in 2011 over 1,000 jobs a month have been announced in multinationals so far this year.  This sector employs thousands of graduates directly from Irish colleges and universities and offers graduate great opportunities to build rewarding and challenging careers. Indirectly, this sector sustains thousands of jobs across all sectors of our economy ranging from construction to transport, to local shops, to restaurants and pubs and each job announcement by a multinational will indirectly create additional jobs. For example, IDA has also announced that recent investments will lead to the creation of approximately 1,500 construction jobs over the next two years. Read the rest of this entry »

Tags: Economy, EU Stability Treaty

Press Release

Local Fine Gael TD Nicky McFadden has called on the people of Longford/Westmeath to vote Yes to Recovery, Investment and Stability in the upcoming referendum on the Stability Treaty.

“Foreign direct investment is hugely important to this country. By voting Yes on May 31^st we will be sending out a clear message that we are committed to maintaining a strong position at the core of Europe.”

“Voting Yes is a key step on our path to economic recovery. The Stability Treaty will not solve all of our problems, but it will help to re-enforce the confidence in the Irish economy that has been growing over the last year. Job creating investors from multinational firms want to know that Ireland is serious about getting our financial affairs in order, and that we are determined to ensure we are fully funded into the future,” Deputy McFadden said.

“Job creation is at the heart of every decision this Government makes. An Taoiseach, Enda Kenny, negotiated this Treaty with his European partners because he believes it is in the best interests of the country. Voting Yes will help to restore stability across Europe and in Ireland; the stability we need to attract investment and create jobs.” Read the rest of this entry »

Tags: Economy, EU Stability Treaty