Irish Food Sector Calls for Yes Vote in Stability Treaty Referendum

The manufacture of food and drink products is Ireland's most important indigenous industry with a turnover approaching €24 billion. Almost 50,000 people are directly employed in the food and drink sector with a further 60,000 employed indirectly in all regions of the country.

25 May 2012 --- Food and Drink Industry Ireland (FDII), the group that represents Ireland's major food and beverage sector, called for a YES vote in the Stability Treaty referendum and said ratification was necessary to help Ireland's exporters continue driving economic growth. A yes vote would also support a stable euro and the restoration of consumer confidence, so that the domestic economy can return to growth.

The manufacture of food and drink products is Ireland's most important indigenous industry with a turnover approaching €24 billion. Almost 50,000 people are directly employed in the food and drink sector with a further 60,000 employed indirectly in all regions of the country. The industry also uses 90% of the output of Ireland's 120,000 farmers. The industry accounts for €8.7bn or half of all purchases of Irish goods and services by manufacturing industry.

Paul Kelly, FDII Director said: "Ireland exports almost €9bn worth of food and drink to over 120 countries and supplies the majority of our domestic €14bn grocery and food service market. A Yes vote will provide certainty for businesses to invest, grow and create jobs. Economic stability in Ireland is critical and we must have absolute certainty about the future funding of the state."

Colin Gordon, Chief Executive of Glanbia Consumer Foods and Chairman of FDII said: "From a food industry perspective, a Yes vote will support our economic recovery, help restore consumer confidence in the domestic market and ensure we stay at the heart of Europe. Moreover with three-quarters of our exports going to the EU, a stable currency and a prosperous Europe is essential as we further develop these export markets and support the 1 in 8 jobs in the economy linked to agri-food."