Yet another business organization has come out in support of the Lisbon Treaty, with the IDA last week voicing its endorsement of a 'yes' vote in the forthcoming referendum.

The body stated that its endorsement is based on the key role that Ireland's membership of the EU has played in persuading almost 1,000 overseas companies to sustain over 150,000 full-time and part-time jobs in Ireland.

According to the IDA's statement, these companies account for 85 per cent of Irish manufacturing exports, spend €15 billion per annum in the Irish economy and contribute almost 47 per cent of the corporation tax take, valued at circa €3 billion in 2007.

Barry O'Leary, CEO IDA Ireland, said "The Single European Market, which allows companies based in Ireland to sell their goods and services freely throughout the European Union, has been one of the major factors enabling Ireland to secure a disproportionate amount of US green-field investment locating in Europe over time".

IDA Ireland believes that multinational corporations have invested in Ireland on the basis that Ireland is at the heart of a vibrant and efficient Single European market. Conversely, any threat to the continued efficiency and dynamism of that market would be viewed negatively and be detrimental to its future investment prospects, particularly impacting the smaller member states, such as Ireland.

Mr. O'Leary added "The efficient working of the Single Market and its extension into new areas of Financial and traded services is vital if IDA Ireland is to continue its success in winning future valued added investment and highly paid jobs for Ireland. In a Europe of twenty-seven plus member states a proficient market can only be guaranteed if the decision making process is well organised and stream-lined and that is what the Lisbon Treaty provides for".

The IDA's statement firmly sets out its stall with regard to its perceived benefits of the Lisbon Treat.

Taxation and Investment

The opportunities presented by the European market to multinational companies investing in Ireland are complemented by the talented Irish work-force and our attractive Corporate Tax rate of 12.5 per cent. This tax rate is fully compliant with the provisions of all EU treaties and nothing in the Lisbon Treaty changes that position. Furthermore, the Lisbon Treaty provides for a continuation of the current status and any changes that might affect it can only be taken by the unanimous vote of all member states. Therefore, Ireland retains its veto in tax matters, thus maintaining international business confidence and ensuring Ireland continues to remain an attractive investment location.