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Glaxosmithkline review of Irish operations a worrying development – Ferris

8 June, 2010 - by Martin Ferris TD


Sinn Féin TD Martin Ferris has said the news that multinational pharmaceutical company Glaxosmithkline is reviewing its operations in Ireland is a worrying development.

Deputy Ferris said the development shows the need for the Government prioritise the development of indigenous industries over foreign direct investment.

Speaking today Deputy Ferris said:

“The news coming from Glaxosmithkline this morning is a worrying development for its 1,400 employees and for the general state of the Irish economy.

“It is clear that, with Ireland’s changing economic circumstances, many of the multinational corporations based here are considering their options. That is the risk we take when we rely so heavily on foreign direct investment for employment.

“This exodus of employers from Ireland, coupled with Barrack Obama’s stated commitment to reclaim taxes from these companies highlights the need for the Irish Government to prioritise the development of indigenous industries over foreign direct investment.

“Ireland’s agri-food industry is a perfect example of an industry which has great potential to expand and create much needed employment.” ENDS

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