ONE OF THE largest trade unions in the State has decided to advise its members to vote Yes in the upcoming fiscal treaty referendum.

After a meeting today, the executive of IMPACT decided that a No vote could result in a significant increase in the cost of borrowing for the State – or even exclude Ireland from future funding altogether. The trade union’s general secretary Shay Cody said that this would pose consequences for social welfare benefits, pensions, and public sector pay, Newstalk reports.

Three trade unions have  come out against the treaty so far, with the Technical Engineering and Electrical Union (TEEU) joining UNITE and Mandate in urging members to vote against the treaty on 31 May.

Yesterday, the Irish Congress of Trade Unions voted not to advise its members on how to vote. Congress secretary David Begg said that while nobody in the ICTU was in support of the treaty, it would not be advising how to vote members due to the fear that a rejection could mean exclusion from the European Stability Mechanism (ESM).

Last week, the National Executive Council (NEC) of Siptu said it would support a Yes vote in the Fiscal Treaty referendum if the Government commits to an “off balance sheet stimulus plan to create tens of thousands of jobs”.

ICTU will not advise members on how to vote in fiscal treaty>

TEEU advises members to vote ‘No’ on fiscal treaty>