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Public capital programme major boost for economy – IBEC

Monday, 26 July 2010
IBEC, the group that represents Irish business, today welcomed the announcement by Government that €39 billion will be in invested by the Exchequer over the next seven years in a revised public capital programme.  

IBEC Director Brendan Butler 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."

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© Irish business and employer confederation (IBEC), 2010
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