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Infrastructure and Capital Investment 2012-16

Infrastructure and Capital Investment 2012-16

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Published by Politics.ie

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Published by: Politics.ie on Nov 10, 2011
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07/30/2012

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Infrastructure and Capital Investment 2012-16:
Medium Term Exchequer Framework
November 2011
 
 
Executive Summary
1. Overview
This Report presents the findings of a Government-wide review of infrastructure and capitalinvestment policy led by the Department of Public Expenditure and Reform. Within the contextof tight fiscal constraints, the Government is committed to ensuring that the country’s stock ofinfrastructure is capable of facilitating economic growth and that the enterprise developmentagencies have ample resources to foster opportunities for enterprise development and jobcreation.Over the medium-term, there will be a lower level of resources available for capitalinvestment. While not ideal, this is the reality of the fiscal challenge which the Governmentfaces. The potential negative consequences of reduced capital spending are tempered byrecent improvements in the economy’s infrastructure, but it is anticipated that there will be areturn to a more substantial Public Capital Programme beyond the period of this review.The country’s infrastructural and capital investment needs are a function of broad societal andeconomic developments. This review assesses the existing capacity of Ireland’s infrastructureand identifies remaining gaps which must be addressed to aid economic recovery, socialcohesion and environmental sustainability.The approach identifies four main components of the investment strategy, namely:
 
Economic infrastructure – encompassing transport networks, energy provision andtelecommunications capacity.
 
Investment in the productive sector and human capital – such as direct supports forenterprise development; science, technology and innovation advancement; supportsfor tourism, agriculture, fisheries and forestry; and capital investment in educationinfrastructure.
 
Environmental infrastructure – including our waste and water systems and investmentfor environmental sustainability.
 
Critical social investment – such as the health service and social housing programmes.
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