Building on Recovery: Infrastructure and Capital Investment 2016-2021
The Minister for Public Expenditure & Reform, Mr Brendan Howlin TD, today (29 September 2015) announced a large scale investment programme that will increase the State’s infrastructure, support economic recovery and jobs, support sustainable communities throughout Ireland and provide modern, fit for purpose buildings to deliver services to our citizens.
The Government is now in a position to increase capital investment for the rest of the decade. Over the next six years, the exchequer will be investing €27 billion to create new assets and maintain and enhance our existing infrastructure.
Announcing the Investment Plan today, Minister Howlin said:
“Some 45,000 construction related jobs will be supported over the six years of the Plan. We are allocating a special envelope to support transport amounting to €10bn over seven years to fund both public transport and roads”.
Over the six years 2016 to 2021, the Government are investing through direct exchequer provision and the PPP programme:
- €4 billion in Education
- €4 billion in Environment
- €3 billion in Health
- €3 billion in Enterprise
- €1.25 billion in Agriculture and
- €1 billion in Justice
This plan has been carefully designed to meet the needs of a growing economy, to improve the delivery of services to communities, and maximise the benefits of support by providing exchequer investment throughout the country. It builds on the recovery, addresses emerging pressures – especially on transport networks- supports the regions, and provides social infrastructure to enhance quality of life and is responsive to environmental challenges.
The Minister noted:
“Investing in infrastructure is an essential element in a modern economy and society – especially in a small open economy like ours. We need to ensure that we can move goods and that people can move quickly and safely throughout the country. We need to support competiveness, nurture our indigenous industry and our agriculture and food sector. We also need to provide public services efficiently and effectively – making use of technology and well designed, fit for purpose facilities is a key enabler for this.”
This plan supports employment – it further modernises the transport network which is crucial to economic development and it supports the roll out of IDA facilities on a regional basis.
It supports education, a critical component of our competitiveness offering, modernising school buildings, investing once again in third level facilities, and upgrading our information technology capacity for students.
It supports the modernisation of healthcare facilities and hospitals.
In addition to direct exchequer investment, the wider semi-state sector will be investing in energy and water facilities. Taken together, total state supported investment will be some €42 billion.
Minister Howlin said:
“Building on Recovery sets out a responsible, affordable and sustainable way forward. It maps a route to continued economic recovery and will provide the bedrock of future growth. It is the investment dividend arising from this Government’s stewardship of the public finances back from the brink five years ago.”