Ibec Calls for New National Infrastructure Fund to Address Social, Economic and Environmental Infrastructure Needs

By Steven Galvin - Last update

Get Daily news and updates directly to your Email

Ibec, Ireland’s largest lobby and business representative group, has called for a significant part of rising budget surpluses to be used to capitalise a new National Infrastructure Fund. The Fund will help address the major social, economic and environmental infrastructure needs which Ireland has committed to meeting over the next decade.

Ibec CEO Danny McCoy said: “A failure to meet the pressing investment needs of the Irish economy over the coming years would represent a greater risk to future economic development and social cohesion than any potential future ‘rainy day’.

“Following extensive engagement with CEOs across the country in recent weeks, it is clear that business sentiment remains very buoyant, with the majority of firms in expansionary mode. Demand in the Irish economy will continue to grow strongly. A failure of domestic supply capacity and infrastructure to keep up is leading to significant congestion and constraints.

“This has led to systemic blockages in both access to physical assets like housing and to the ability of households to access services which are core to a progressive society. This congestion is now a material threat to both economic advancement, generational solidarity and social cohesion.

“To reflect growing commitments in areas such as net-zero decarbonisation, a more rapidly growing population than envisaged in the National Planning Framework, there is at least €30 billion over and above the current National Development Plan required between now and 2030. This should be funded through a new National Infrastructure Fund capitalised with a portion of current record tax revenues.

“This fund would guarantee public capital projects are protected during cyclical downturns, lessen the need for ‘catch-up’ spending, deliver improved value for money and give greater certainty to sectors which are downstream of infrastructure delivery, thus allowing organisations to build capacity and to retain skills in both the public and private sectors. Along with the deployment of the €1.5 billion surplus of employer contributions in the National Training Fund, we can develop the skills capacity to meet future infrastructure needs.

“We must also invest in the capacity of the State to deliver on these projects. Our regulatory, planning, and policymaking systems has not kept pace with the scale of private sector investment over recent years.”

CorporateTraining.ie is the largest database of professional development and corporate training courses in Ireland. We list thousands of training courses from trainers and training providers nationwide

Steven Galvin

Digital Health Roadmap for Addressing Skill Needs
1 in 4 Employees Fear AI Will Impact or Replace Their Job


Leave a Reply

Your email address will not be published. Required fields are marked *

We'd love to send you the latest news and articles about evening classes, further learning and adult education by email. We'll always treat your personal details with the utmost care and will never sell them to other companies for marketing purposes.

Comments and Reviews Policy