Enda Kenny (Mayo, Fine Gael)

Tá a fhios ag an Teachta go maith go bhfuil an tAire Airgeadais ag plé lena chomhghleacaithe san Eoraip ó thaobh athruithe ar an phlean a leag an troika amach agus go bhfuil athrú i gceist ag an troika. Tá a fhios ag an Teachta gur luaigh mé iad seo sa Dáil.

The Deputy always speaks of austerity. Yesterday, he said it was quite bizarre that comments should be made by myself and Deputy Martin in respect of supporting the fiscal stability treaty because of the clear opportunity to keep confidence levels for investment in Ireland high. The Minister for Jobs, Enterprise and Innovation is in the United States with Industrial Development Authority officials talking to a range of companies that are considering investing in Europe. The reason they want to consider Ireland is the package we offer in terms of our tax system, technological capacity, talent and track record in meeting every objective and bar that has been set. The Deputy has first-hand evidence of that in his town of Dundalk where PayPal decided to add 1,000 jobs. He found the discussion I had with Deputy Martin and the comments we made quite bizarre. I do not understand that.

Every job created in the country as a result of investment from abroad reduces our deficit by €20,000 and, therefore, the announcement of 1,000 new jobs means a €20 million reduction and 5,000 jobs means a €100 million reduction. I have made these announcements because of decisions made by investors abroad in the recent past such as PayPal, Apple, Cisco, Eli Lilly, Mylan, Microsoft, HP and so on. They have made decisions to invest their money in various locations in this country where people will have gainful employment and can make a contribution to their local economy and to their own lives and families. That is not austerity.

We have set out our plan for growth to deal with our budgetary strategy in the years ahead but it is important people understand the reality that a "Yes" vote will lead to confidence and further investment and, as a consequence, more jobs. That means the deficit will be reduced and it will be easier for Government to plan a way forward between rectifying our public finances, stabilising our debt and growing our economy. I therefore do not accept the argument put forward by the Deputy at all. There are good reasons for voting "Yes" to this treaty. The first is the continuation of the line of investment in Ireland. The second is the introduction of good housekeeping rules as we get our own house in order and the third is the permanent backstop of the European Stability Mechanism, which will be available to countries that ratify the treaty,

Those companies in the US today that are considering investment in Europe want to look at a country that has confidence in itself, the eurozone and the European Union. That is where we stand, and even if the Deputy's heart is not in this argument, he has first hand evidence in Dundalk that investors have put their money where their mouths are in his constituency and his town. Young men and women will be the gainful beneficiaries of that, and fair play to them.

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