merrion street

Taoiseach Enda Kenny has addressed the American Ireland Fund 19

National Gala at the National Building Museum in Washington DC.

In his address, the Taoiseach spoke of the Government’s plans for Irish economic recovery and the reasons to be “optimistic” about our economic future:

We need to reduce our deficit urgently.  That will mean painful fiscal choices.  But that’s not something I need to explain to an American audience.

We need to conclusively stabilise our banks and get them back to productive lending.

We need to protect and create jobs for our people, through enterprise and innovation at home and trade and investment abroad.

And we have to prove ourselves the hardworking, innovative, educated people we know we are, to drive our economy through new levels of competitiveness to recovery and renewal.

I firmly believe that we can do it.  There are reasons to be optimistic.

Our exports are very strong, growing at an annualized rate of 13% by the end of 2010

We are gaining competitiveness rapidly – we have a highly skilled labour force, business costs are down and companies are paying attention.

Our commitment to an open business environment, and our 12.5% corporate tax rate, are here to stay.  That’s our business model.  It has worked for us.  It has worked for US and global companies using Ireland as a base of operations to access half a billion European consumers. 

Inward investment continues.  In the last year alone, Intel, Google, eBay, Facebook, Citigroup, Boston Scientific, and many others have expanded operations or increased their R&D in Ireland.

The Taoiseach also spoke of Irish investment in America:

Irish companies are succeeding like never before in the global marketplace.  Ireland is already the 13th largest foreign direct investor into the US with cumulative investments valued at over $34 billion. There are over 200 Irish companies in the US, with 2,600 offices located in all 50 States, and that means 82,000 American jobs. As I said, we know it’s up to us in Ireland to face up to our problems and deal with them. 

But we know we can count on our friends to speed our way.

The Taoiseach commended the Northern Ireland Assembly for the “historic achievement” of completing a full term of government with a power-sharing administration:

Later this month, the Northern Ireland Assembly will have its final session before the democratic election to be held in May.

This will be the first time in the history of Ireland that a power-sharing administration, with full powers over a wide range of areas including policing and justice, will have run a full term.

That is a historic achievement that should inspire us all to believe that change is possible and the highest barriers can be overcome.

Mr Kenny thanked the Ireland Fund for their response to the Promising Ireland campaign and assured that Ireland is on the road to recovery, and paid tribute to Americans and Irish-Americans who have supported Ireland, such as Speaker Tip O’Neill, U.S. Ambassador to Ireland Dan Rooney and his wife Patricia, Congressman Peter King, Chairman of the Friends of Ireland, Congressman Richie Neal, Congressman Tim Murphy and Governor Martin O’Mally.