BaileNuachtCartlann Aitheasc agus Preaseisiúintí

Taoiseach Announces €40 Billion Stimulus For Growth And Job Creation

 

"Proportionately this is one of the highest spends in the European Union, and a major stimulus to the economy as we return to growth."

The Taoiseach, together with the Minister for Finance and the Minister for Environment, Heritage and Local Government today launched the Government's Infrastructure Investment Priorities for 2010 - 2016 at the new National Convention Centre in Dublin.

The Taoiseach said:

"Over the next seven years we will invest €40 billion in economic and social infrastructure. We have reviewed all our capital programmes and identified new priorities and opportunities given the changed circumstances the country faces."

"We are focusing on investments which will help create sustainable jobs - by shifting resources to areas which will help Irish companies grow, and attract more foreign investment."

The Taoiseach said the new investment programme is

"...ambitious, appropriate and affordable.

It is exactly the type of stimulus that the economy needs to help rebuild confidence and accelerate economic recovery

More than anything else, it is a clear statement of confidence and optimism about Ireland's future. "

The Government has completed a comprehensive review of its Public Capital Investment Programme.

It has will invest €40 billion over seven years to support recovery, prioritising productive and employment-supporting sectors, including enterprise and innovation, education, public transport and environmental services.

Among the key allocations are:

4.21 billion euros for education
2.89 billion euros for health
3.69 billion euros for enterprise
5.77 billion euros for public transport
5.97 billion euros for roads
3.66 billion euros for environmental services

There are also major investments in housing, agriculture, flood relief, community development, energy, broadband, information and communications technology, tourism, culture and sport.

For detailed coverage of the launch go to www.merrionstreet.ie

A copy of the Review of Infrastructure Investment Priorities and is available at www.finance.gov.ie

Ends