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IDA figures welcome but more needs to be done to ensure sustainable job growth - Cullinane

3 January, 2014 - by David Cullinane TD

Senator David Cullinane, Sinn Féin spokesperson on Jobs, Enterprise and Innovation said today in response to the publication of the IDA report for 2013:

"The increase of employment in foreign direct investment is to be welcomed and reflects the energy and commitment of the IDA. Large multinationals account for around 20% of employment and should complement jobs growth in the wider domestic economy.

"Sinn Féin believes that FDI employment should be both sustainable and deliver jobs across the regions most affected by unemployment. It is extremely disappointing that the IDA has failed again to reach its own target of 50% of jobs outside of Dublin and Cork. Many areas have not even had one investment visit over the past number of years.

"The Minister needs to put in place initiatives to support and promote employment across the regions and such as a pilot IDA regional office for the South East.

"With regard to sustainability, it should be noted that over 6,000 jobs were lost in this sector last year and significant challenges remain with the international community focusing on this states facilitation of tax avoidance.  The IDA needs to identify how many of these jobs are companies abusing tax loopholes, including the ‘Double Irish’, and how many are recruited from abroad or through internal company transfers.  "There is a need for openness and transparency in these figures."

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