BIG companies will backtrack on plans to invest in Ireland if we vote No in the upcoming Fiscal Treaty, Jobs Minister Richard Bruton has claimed.
Mr Bruton says that if the referendum is rejected it will damage investment, especially from overseas.
He said multinational companies “are considering investing in Ireland but are concerned about the possible fallout of a No vote”.
The minister was speaking in Chicago where he was concluding a five-day visit with the IDA.
Stability
According to Mr Bruton there are a “strong pipeline” of investments being considered.
“The senior decision-makers I have met this week in major US companies are considering specific plans to invest and create jobs in Ireland, and are very impressed by what we have to offer, particularly through our tax rate, our skilled workforce and our improved competitiveness,” he said.
Mr Bruton noted recent job announcements by companies including Apple and Cisco.
“The message I am getting in boardrooms in the United States this week is that more and more companies are considering investing in Ireland and creating the jobs we badly need,” he added.
“However the referendum is being discussed in these meetings, and these companies are seriously concerned about any developments which could undermine the stability of our economy or our relationship with Europe.
“They are saying to me very candidly that these issues are very important for their investment decisions.”
However, Sinn Fein’s Peadar Toibin has argued that a Yes vote would hit foreign direct investment. He said that the treaty would lead to more austerity which would ultimately drive companies out of Ireland.
Party president Gerry Adams added: “The choice is clear, people must decide if they are for more austerity or for investment in jobs and growth.
“I want to welcome the recent interest in jobs and growth from the Yes side in the campaign. But talking about jobs doesn’t get people off the dole.”
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