Strong Economic Forecasts Highlight Urgent Need to Address Infrastructure Deficits
Commenting on the publication today (11 April 2017) of the Draft Stability Programme Update, Ian Talbot, Chief Executive of Chambers Ireland said, “The improved GDP forecast and the positive employment growth predicted are further evidence that now is the time for Government to invest in capital infrastructure projects. This investment will support future economic growth and help insulate the economy from any potential economic shocks that result from the UK withdrawal from the EU, as referenced in the Draft Stability Programme Update.
The strong performance of the Irish economy in recent years coupled with a growing population has led to increased pressure on existing infrastructure, particularly in city and urban areas. The strong forecasts for employment growth in 2018 along with the recently published summary results from Census 2016 show that Ireland had the fastest growing population in the European Union between 2011 and 2016 and indicate that the pressure on transport infrastructure and housing will continue to increase. This highlights the urgent need for Government to invest in infrastructure while the economy is performing strongly and to fund capital projects that will enable us to not only keep up with the current pace of growth but also drive future economic growth across Ireland.”
