FF: New EU deal could cost Irish jobs

Fianna Fáil said today that it is concerned that Ireland's financial services could end up in a weaker position because of Britain's moves to veto changes at EU level, designed to save the euro.

FF: New EU deal could cost Irish jobs

Fianna Fáil said today that it is concerned that Ireland's financial services could end up in a weaker position because of Britain's moves to veto changes at EU level, designed to save the euro.

Fianna Fáil wants the Taoiseach to clarify the Irish position on a new tax which, it claimed, could damage the IFSC and cost jobs.

The party's Finance Spokesman Michael McGrath said that the Government needs to oppose any proposal for a financial transactions tax arising from yesterday's EU deal, adding that we cannot allow a situation where London becomes a more attractive base than Ireland.

Deputy McGrath said that this could put Ireland's financial services industry at a major disadvantage compared to London.

"I think the Government will have to insist that any arrangement that is entered into doesn't put us at a disadvantage compared to our nearest trading partner, Britain," he said.

"Because the industry has been tremendously successful in recent times, it has great potential and prospects for further growth, but I believe that growth could be damaged and stymied if such a tax is introduced which applies in Dublin and the rest of Ireland, but doesn't apply in London."

x

More in this section

Lunchtime News

Newsletter

Keep up with stories of the day with our lunchtime news wrap and important breaking news alerts.

Cookie Policy Privacy Policy Brand Safety FAQ Help Contact Us Terms and Conditions

© Examiner Echo Group Limited