American chamber calls for Yes vote

THE AMERICAN Chamber of Commerce in Ireland has called for a Yes vote in the forthcoming Lisbon referendum, arguing that approving the treaty will promote economic security.

Paul Duffy, president of the chamber, told the group’s annual Independence Day lunch in Dublin yesterday that a Yes vote was in the Republic’s social and economic interests.

Dr Duffy, who heads Pfizer’s Irish operation, said questions or doubts Irish people had about the treaty had been “clearly and decisively answered”.

“The willingness of our EU partners to provide the guarantees on issues such as taxation sovereignty, neutrality and social issues reaffirms their goodwill towards Ireland and their desire to see Ireland remain a full and active member within the union,” he said.

The American Chamber also promoted a Yes vote in the first Lisbon referendum last June.

Dr Duffy said Ireland would be better-positioned to thrive economically as “a full member” of the EU.

He described the Republic’s entry to the EU as a “defining moment”, arguing that support from the European Social Fund led to “a faster increase in the stock of skilled labour”.

Official statistics show that US multinationals pay about 40 per cent of corporation tax in the Republic and employ almost 100,000 people directly.

Dr Duffy said more jobs are likely to be created by US companies in Ireland if Ireland is “influencing decisions at EU level”.

“Our success in maintaining and growing this investment, as a committed member of the European Union, will have an important influence on our future growth.”