EU-US trade deal opposed by Sinn Féin could create up to 10,000 new jobs – Farrell

Fine Gael TD for Dublin Fingal, Alan Farrell has said today (Friday) that an EU–US trade deal could lead to the 5,000 to 10,000 new jobs in Ireland and increase Irish GDP by 1.1%, that’s an average of €1,200 per family. An independent study on a potential deal was launched today by the Minister for Jobs, Enterprise and Innovation, Richard Bruton TD.

“An EU-US trade deal has the potential to create 5,000-10,000 extra jobs in exporting companies boost growth in the Irish economy. This is the same trade deal that has been opposed by Sinn Féin MEP, Liadh Ní Ríada at every step in the European Parliament. Sinn Féin need to confirm if they are anti-jobs. Gerry Adams has previously stated that Sinn Féin policies could affect inward investment in Ireland and their opposition to this deal confirms their reckless attitude to the economy.

“As a small open economy Ireland’s ability to grow and create jobs is directly linked to our ability to sell our goods and services overseas. An EU-US trade deal, which the subject of current negotiations, will allow Ireland grow its trade with the US and grow jobs back at home. A mandate to negotiate was secured during Ireland’s EU presidency in 2013.

“Fine Gael in Government is focused on building a sustainable economy to replace the failed model based on property and debt which collapsed. By achieving full employment by 2018 we can ultimately grow our tax revenues, deliver improved services and put money into people’s pockets through income tax cuts.

“Sinn Féin’s approach is to oppose jobs and sustainable economic growth, as their opposition to this deal confirms. Their fantasy economics would risk bringing us right back to economic instability.

“The main findings of the report, entitled   TTIP impact in Ireland, prepared by leading international economics consultancy Copenhagen Economics, are that a comprehensive deal would:

·          Bring a 1.1% increase to Irish GDP

·          Increase Irish real national income by €2.4billion, (approx 1.5%)

·          Create 5,000-10,000 extra jobs in exporting sectors

·          Increase real wages by 1.5%, impacting all skill groups, with low skill groups seeing a higher impact (1.9%)

·          Increase exports by 3.8%

·          Increase investment in Ireland by 1.5%

·          Increase trade with third countries as well as with the USA

“Since the conclusion of a trade agreement between the EU and Korea three years ago, trade between the EU and Korea has increased by 35%, two and a half times faster than the average for EU trade. This is the progress opposed by Sinn Féin and the extreme left.”