| Click for the Finfacts Ireland Portal Homepage |

Finfacts Business News Centre

Home 
 
 News
 Irish
 Irish Economy
 EU Economy
 US Economy
 UK Economy
 Global Economy
 International
 Property
 Innovation
 
 Analysis/Comment
 
 Asia Economy

RSS FEED


How to use our RSS feed

 
Web Finfacts

See Search Box lower down this column for searches of Finfacts news pages. Where there may be the odd special character missing from an older page, it's a problem that developed when Interactive Tools upgraded to a new content management system.

Welcome

Finfacts is Ireland's leading business information site and you are in its business news section.

Links

Finfacts Homepage

Irish Share Prices

Euribor Daily Rates

Irish Economy

Global Income Per Capita

Global Cost of Living

Irish Tax - Income/Corporate

Global News

Bloomberg News

CNN Money

Cnet Tech News

Newspapers

Irish Independent

Irish Times

Irish Examiner

New York Times

Financial Times

Technology News

 

Feedback

 

Content Management by interactivetools.com.

News : Irish Economy Last Updated: Aug 23, 2010 - 8:24:15 PM


Cowen announces what he terms 7-year €40bn 'stimulus for growth and job creation'
By Finfacts Team
Jul 26, 2010 - 3:04:00 PM

Email this article
 Printer friendly page

The Taoiseach, Brain Cowen, 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.

Cowen said "proportionately this is one of the highest spends in the European Union, and a major stimulus to the economy as we return to growth." He added: "Over the next seven years we will invest €40bn 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 €40bn 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:

  • €4.21bn for education

  • €2.89bn for health

  • €3.69bn for enterprise

  • €5.77bn for public transport

  • €5.97bn for roads

  • €3.66bn for environmental services

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

IBEC Director Brendan Butler lauded the Government's public spending plans and vision said: "This investment is an important vote of confidence in the Irish economy. The scale of the programme remains ambitious by international standards and provides the opportunity to enhance the growth potential of the economy. The certainty that now exists about the Government's investment plans will deliver a much needed stimulus to the domestic economy.

"Government has rightly prioritised the employment aspects of investment. In addition to the much needed infrastructure projects, the plan provides for increased investment in enterprise development, education, skills and R&D.

"The commitment of this investment now provides the platform to attract substantial investment from the private sector. Public private partnerships have a proven track record of delivering major infrastructure projects and many international funds are looking to invest in Irish PPP projects.

"It is now vital that government departments and agencies get this funding flowing through the economy as quickly as possible. We need to ensure that a sensible approach is taken to planning issues and that unreasonable delays do not threaten the delivery of much needed infrastructure and employment."

'Leaflet' - Capital Expenditure Review (pdf)

Related Articles
Related Articles


© Copyright 2010 by Finfacts.com

Top of Page

Irish Economy
Latest Headlines
Finfacts launches new news site
Irish Farmers & Milk Prices: 'Shackles' off in April; Demanding safety-net in August
Irish pension managed funds returns at over 12% year-to-date in 2015
Irish chartered accountants' salary packages surge 13% in 12 months
Irish services PMI fastest rate since late 2006; Official data up only 2.4% in 12 months
Irish Economy: Tax €893m above target in year to July — €653m from corporation tax
Fact and Fiction: Time to review Ireland's economic statistics?
Irish M&A deals H1 2015: Dutch or UK firm acquires Irish firm for €32.6bn - they are both American
Irish manufacturing PMI strong in July
Irish Economy: Fall in GNP in Q1 2015; GDP rises
Irish Economy 2015: Central Bank lauds strong recovery; Time to start paying down debt
Irish Budget 2016: Ibec demands 20 tax cuts, spending and investment rises
Low pay in Ireland; Lowest social security & corporate taxes in Europe
Ireland vs Greece: Enda Kenny's false claims on growth, taxes and debt
Irish standard of living in 2014 below Euro Area average, Italian level; Prices 5th highest in EU28
Irish goods exports rose a record 30% in April - due to fake tax-related transactions
Mexican tall ship to sail into Dublin on June 17th
Irish industrial production up 20% in first four months of 2015; Construction down 2.6% in first quarter
Irish Economy 2015: ESRI slams return to boom-time pro-cyclical fiscal policy
Irish pension fund returns in average range 1.6% - 1.8% in May 2015
Irish service sector PMI remains strong; Tax avoidance clouds data
Ireland: Official unemployment rate at 9.8% in May; Broad rate at 19% — 440,000 people
Ireland: Fiscal Council warns of dodgy forecasts, no plan; OECD warns of new property bubble
Irish Public Finances: Tax revenue in first five months of 2015 €734m ahead of target
No simple measure of economic progress in Ireland: GDP & GNP defective
Irish manufacturing PMI rises in May; Production up unbelievable 45% in year to March!
ESRI says data volatility hinders Irish economic forecasting; Tax avoidance taboo cause
Ireland at 16 in international competitiveness ranking; US, Singapore and Hong Kong on top
Irish Economy 2015: Sectors to add 200,000 jobs?; Broad jobless rate at 19%
Irish Export Performance: Myths and reality - Ireland is a poor exporter
Irish Economy: 41,300 jobs added in 12 months to Q1 2015 - Construction up 19,600
China-Ireland: Economic relationship on a slow burn
Estonia, Austria, France, Ireland head global alcohol rankings
Irish Exchequer Returns: Tax receipts under target in April but ahead in year
Irish service sector PMI rose in April
Irish manufacturing PMI remained strong in April- includes overseas manufacturing
Irish Live Register + 90,000 activation scheme numbers at 439,000 in April
Ireland: Coalition drops 2018 full-employment target
Ireland Spring Statement: Noonan promises 200,000 net new jobs by 2018
Irish Economy 2015: Retail sales volume up 1.4% in month of March