“This IBEC survey has made some very interesting findings, and I think it underlines the importance of a Yes vote for businesses in Cork and right across the country. Not only do 90% of CEOs believe a Yes vote is important to the future prosperity of their business, 83% believe it will have a positive impact on Ireland’s ability to attract Foreign Direct Investment.

“Furthermore, the survey gives an interesting perspective on the impact of a rejection of the Treaty. If we oppose the Treaty, 87% of business leaders believe it will limit our ability to do business in Europe. At the moment, 60% of our exports go to the EU. As the only English-speaking country in the Eurozone, we are in a great position to further capitalise on this market. Why would we want to put this at risk?

“A Yes vote will help to deliver the certainty and stability needed for job creation. We’ve seen thousands of jobs created by companies like Apple, Mylan, Cisco, HP and Paypal in recent months. Clearly Irish business leaders believe our ability to continue to attract this kind of investment would be severely hampered by a rejection of the Treaty.

“According to IBEC, Irish companies are making a direct link between passing the Treaty and the future success of their own businesses. These are job creators operating in the real economy, and I think their views should not be ignored.  

“While unemployment rates remain far too high, there’s been some small progress on job creation in the last year. For example, by the end of 2011, there were 11,000 more people working in accommodation and food services than when the Government came to office. There was also a 6,000 net increase in jobs in IDA-supported companies last year and there was a 30% increase in companies investing in Ireland for the first time.

“We need to give ourselves the best possible chance of continuing with this progress. The Stability Treaty won’t solve everything, but it will be a key step as we rebuild a working Ireland.”

Introduction…

Ladies and Gentlemen, good morning.

At the outset, let me say that I am delighted to have been invited to speak here today at the first Bloomberg Ireland Economic Summit. Such events provide an excellent opportunity for informed discussion and debate on the Irish economy, on the challenges and the opportunities and I hope that this will become an annual event.

The programme of debates and speakers that Bloomberg have lined up today highlights the diverse nature of the Irish Economy and the broad range of opportunities that Ireland has to offer to investors. The timing of this conference could not be more pertinent and comes at a critical juncture on Ireland’s ongoing path to recovery and I am sure that the discussion will be most interesting and thought-provoking.

The primary focus of this Government is to bring certainty and stability to the Irish economy so we can return the economy to sustainable growth, continue to provide vital public services, continue to attract investment and reinvestment and, most important, we can continue to tackle the unemployment problem and get people back to work.

The Irish economy is in a much better position that it was this time last year and I am confident that this progress will continue. This can be seen in our headlines indicators, our bond yields and in investment and job announcements. However, significant challenges remain and stability, certainty and confidence at home and in Europe are key to our continued recovery.

The Stability Treaty referendum on the 31st of May, 15 days from today, is a key moment. The ratification of this Treaty will play an important role in continuing this progress and restoring much needed confidence to Ireland and to Europe.

I would like to talk to you this morning about the Stability Treaty and outline, in my view, the reasons to Vote Yes and why a Yes Vote is in Ireland’s best interest.

Fiscal Rules:

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.

The Treaty is essentially a set of fiscal rules designed to strengthen and stabilize the European Union and to support job creation and growth. These rules are backed up by a strengthened surveillance, co-ordination and governance among member States. 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.

While some might argue that these rules are too little too late – I do not agree. 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. If the Stability treaty had been passed 10 years ago Ireland wouldn’t be in the “fix” it is now in. If the fiscal rules underpinning the treaty were in place in 2002 and 2007 much of our present difficulties could have been avoided.

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 rules will not, as has been suggested, lead to our budgetary and fiscal policies being decided in Brussels or Berlin. The Government of the day will be free to decide what level of public services that they wish and in line with basic common sense they will just have to make sure that they raise sufficient revenue to pay for these services.

As we build for the future it is essential that we put the appropriate Budgetary frameworks in place. It is it never too late to plan for the future and legislating to prevent future Governments from spending and borrowing excessively is sensible and prudent. Thinking longer term, adhering to these rules will mean that Governments will have resources available during economic downturns to spend and invest so as to stimulate economic growth and job creation.

Foreign Direct Investment…

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.

Multinational companies see Ireland as an excellent base from which to services their European and World markets. In addition, to the US and European multinationals, emerging countries such as China are starting to look at Ireland as hub and a gateway to the European and US markets. I note that one of your discussion items this morning is China’s interest in Ireland and the potential for developing this key relationship. The recent successful state visits to and from China highlights the opportunities that exist for Irish companies from developing this relationship. This Government and all State agencies will do all we can to translate this potential into jobs and investment.

These companies are not establishing in Ireland to services the domestic market. For potential investors our central place in Europe is key to our attractiveness to and a Yes vote will send a clear message to investors that Ireland is fully committed to the European project. If we are not central to the European project our attractiveness declines.

A Yes vote will ensure that investors who have put decisions on hold pending the outcome of the referendum will make the investment and will ensure that the existing companies continue to trade and prosper in Ireland. However, a No vote will diminish our attractiveness as a base for investment, will not give investors the certainty and confidence to investment millions of Dollars, Euros or Renminbi into the Irish economy and will not create jobs and opportunities for the Irish people now or in the future.

Access to the ESM…

The third reason to vote yes is it guarantees access to the ESM, Europe’s firewall and permanent source of non-market funding. From 2013 this will be the only European fund available to European countries who cannot fully access the market. The Government’s objective is to re-enter the markets when our programme concludes. However, if in the worst case scenario, we are unable to borrow at affordable rates from the markets the ability to access to ESM is essential.

This access guarantees the funds for our public services including pensions, social welfare, education and health services in the future.

Even if we do not need the ESM, the very fact that we can access low cost funds available, will make our market return easier and cheaper. It is a truism of lending that those who can access a number a number of lenders will get better terms.

Balance of Certainty…

The Fourth reason to vote Yes draws on the experience of previous European referendums. The Lisbon Treaty and the Maastricht treaty were complex treaties and the consequences of a Yes were somewhat uncertain. A No vote was a vote for the Status quo. On this occasion the balance of certainty is not with a No vote. A Yes vote gives certainty and the consequences of the treaty are easily understood.

A No vote is a leap in the dark – a dangerous leap that Irish citizens should not take.

Conclusion

Ireland has gone through an unprecedented period of turmoil over the past four years. The crash that we have experienced has caused great difficulties for many families and businesses across Ireland. However, as a result of the resolute and flexible nature of the Irish people, we are recovering. We have restored competitiveness, we are attracting investment and jobs and growth is returning.

The Irish people have made huge sacrifices to bring public finances under control and return the economy to growth. While much work remains, we have been meeting all of our programme commitments and we are on target to emerge from the Programme.

We are doing everything in our power to get the economy back on track. Of course, there are many factors beyond our control that will have important influences on our economy; but our task must be to position the economy so that we can take advantage of global recovery as it emerges.

One factor that is within the control of the Irish people is the decision to ratify the Stability Treaty. A Yes vote will bring an end to the boom-bust cycle that has caused great difficulties to so many Irish people and business, it will bring stability, it will ensure that we can continue to provide vital public services, it will continue and boost the steady flow of inward investment and it will give certainty to investors and the markets.

I hope that this treaty is passed by the Irish people on the 31st of May. If it is it will maintain the Stability that this Government has established since taking office, it will continue to build confidence in the economy and will build a firm foundation for growth and jobs.

Thank you.

 

Public health doctors in the HSE South today (Monday 14^th May 2012) are urging parents to ensure their children are protected against measles following an outbreak of the disease in West Cork.

 
The outbreak is predominantly affecting teenagers who are not vaccinated. In the last four weeks 25 measles cases have been reported. This compares to no cases for the first three months of 2012. The majority of notified cases have been in the 12-18 years age group with the oldest case reported being 18 years of age. No deaths have occurred and none of the teenagers were vaccinated.

“Measles can be a serious and potentially fatal illness and children who have not been vaccinated are particularly at risk of measles during this time, says Dr. Fiona Ryan, Specialist in Public Health Medicine, HSE South.  

“This outbreak is affecting children who are not vaccinated. Siblings of children with measles, if not vaccinated, are also recommended to stay out of school or child care during the incubation period (usually around 14 days but may be up to 21 days), to ensure that they do not transmit infection to other children who may be too young for vaccination or be at increased risk due to other conditions”.

Measles is a highly infectious disease, 1 in 20 will get pneumonia, 1 in a 1000 will get encephalitis and between 1-2 in a 1000 will die from the disease. To be protected you either need to have received the MMR vaccine or to have had the disease. There is no other way to prevent measles infection.

Two doses of MMR are recommended; the first at 12 months of age, which is given by a GP, and the second at 4 – 5 years of age, which is usually given in schools by the HSE School’s Immunisation Team. Parents should check their child’s immunisation records and determine if they have received two doses of MMR. If no records are available then the child should be brought to the GP for vaccination. All children/teenagers who have not received two doses of MMR vaccine can receive MMR vaccine from their GP free of charge. MMR given to a child within 72 hours of exposure to measles may prevent measles.

More information on measles and MMR vaccine is available at www.immunisation.ie and www.hpsc.ie

Ends/

 

Fine Gael TD for Cork South West, Jim Daly, has welcomed the Government’s announcement today that the temporary 9% lower VAT rate which applies across the tourism sector, will be extended into 2013. Leo Varadkar TD, Minister for Tourism, made the announcement in the Dáil today, when responding to questioning on the issue.

Responding to the Minister’s announcement, Deputy Daly said: ‘The Government’s decision to extend the temporary lower 9% VAT rate on tourism into 2013 is very positive news for the tourism industry. This extension of the lower rate will enable the industry to plan and to market for next year in the knowledge that Ireland will be able to offer lower-cost tourism options to tourists.’

“Reducing the lower VAT was one of the first acts taken by this Government when the Jobs Initiative was announced in May 2011. This measure had the effect of creating 6,000 new jobs in Irish accommodation and leisure last year. A 6% increase in overseas visitors to Ireland in 2011 was another direct result of the reduction.

“The reduced lower rate of VAT is worth €2,250 for every €50,000 turnover within the tourism sector, and that is a significant boost in an industry which operates with tight margins.

“It is a priority for this Government to reduce costs within the tourism industry, and the industry has seen evidence of this in the last 12 months. Thankfully, Ireland is no longer regarded as a rip-off tourist destination. Today’s news is another step in the right direction.”

The Scheme which was designed to help those seeking employment to gain valuable experience while enhancing their prospects of securing employment was launched just ten months ago. Since then, 6,840 internships have started.
More than two thirds (67%) of interns have been placed with private companies.
One fifth of placements are in public sector bodies with the Community & Voluntary sector accounting for the remaining participants.
Smaller companies of less than 50 employees account for 57% of placements.
Larger companies (over 250 employees) have also participated strongly with almost a quarter (24%) of placements in these firms.

Since 1st January 2012, companies who employ interns can avail of the Employer Job (PRSI) Incentive Scheme which exempts employers from liability to pay their share of PRSI for certain employees. This will provide an additional boost to JobBridge. The Department is involved in the continuous monitoring of internships; in order to ensure that the placement provides appropriate training and development experience; and that appropriate mentoring and support is provided to the intern.
Speaking on Morning Ireland, Chair of the JobBridge Steering Group, Martin Murphy, said that of the 2,000 people who have completed the scheme, 797 or almost 40% have gone into full-time employment.

Fine Gael, TD for Cork South West Jim Daly, 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.”

As committed to in the Programme for Government, an Expert Group, drawing on appropriate medical and legal expertise, was established in January to study the judgment by the European Court of Human Rights on the ABC Vs. Ireland case.

The Expert Group represents an important part of the Action Plan submitted by the Government to the Council of Europe regarding the judgement. The Group, chaired by Mr Justice Sean Ryan, was requested to report to government within six months. The Government believes that this is the appropriate forum in which to examine this complex and sensitive matter.

When the Group has presented its options to government later this year, a decision by government will be taken on the matter.
It is because of the ongoing work of the Expert Group that the Government opposed the Bill before the House in Private Members Time recently.

Sincerely,

Jim

The package will provide grants to 152 commercial horticultural producers to assist them in funding capital investments in specialist new equipment and facilities. The grant aid covers all areas of the horticultural industry – including field vegetables, mushrooms, protected crops, nursery crops, soft fruits/apples, cut foliage, Christmas trees, bulbs and bee-keeping. It will assist in funding investments of approximately €9.3 million between now and the end of the year.

The Minister is sanctioning these grants under the 2012 Scheme of Investment Aid for the Development of the Commercial Horticulture Sector funded under the National Development Plan (2007-2013).

As you well know, it is vital for the Government to support capital investment that will set the foundations for economic recovery. The horticulture industry needs to invest in order to meet the competitive pressures it faces. These pressures arise in particular from high input costs, competitively priced imports, lack of scale and the dominance of the supermarket trade.

Last year, the horticulture industry contributed an estimated €288 million to the value of agricultural output. It provides – directly and indirectly – an estimated 5,000 jobs nationally, with many further jobs being generated in distribution, processing and marketing. This Government is committed to ensuring that the industry receives the support it requires to allow it maintain and further increase its contribution to the Irish economy.

I am pleased by the number of high quality projects that have sought assistance this year under the grants Scheme. This is further evidence of the potential that exists within the Irish agri-food industry. I am encouraged to see the level of confidence that currently exists within the horticulture sector as demonstrated by the uptake of these grants.