Increase in Capital Investment Needed to Meet Demands of Growing Economy
Commenting on today’s (31 January 2017) announcement by Minister Donohoe and Minister Noonan of the Capital Plan Review, Ian Talbot, Chief Executive of Chambers Ireland said, “We welcome today’s announcement of the process for review of the Capital Plan in 2017 and the commitment to prioritise investment in infrastructure that will support Ireland’s sustainable economic development. Ireland’s infrastructure stock will require significant investment in the coming years to enable future economic growth.”
“As our economy and population continues to grow, there will be increased pressure on our existing infrastructure, which has also suffered badly from under investment over recent years. If we are to meet the demands of our growing economy then Ireland urgently needs significant increases in capital investment. This is particularly the case, if we aspire to attract additional foreign direct investment from multi-nationals who may wish to leave the UK following their EU exit, we must also ensure that our infrastructure can meet the additional demands this growth will create.”
“The review of the Capital Plan provides a welcome opportunity for Government to prioritise the most strategically important infrastructure projects that can deliver long-term sustainable economic growth.”
Chairperson of Mayo Chambers and Ballina Chamber of Commerce PRO, Brian Hopkins states “Mayo Chambers welcomes this mid term review of the Capital Plan, as the ever evolving state of the Country’s needs and in particular, the needs of the West of Ireland must have its infrastructural projects prioritised as the East, West divide deepens.
Mayo Chambers urges Government infrastructure projects to be prioritised in the months ahead and also the longer-term approach that is to be taken to address our future planning needs, especially planning for the future development of the West of Ireland.”
To Review the Capital Plan see Building on Recovery: Infrastructure and Capital Investment 2016-2021
Further information at the recent announcement ;
www.irishexaminer.com/ireland/26bn-to-be-spent-on-capital-projects-441664.html
www.newstalk.com/Public-to-decide-how-extra-government-funding-will-be-spent
