merrion street

Public Expenditure Minister Brendan Howlin today announced additional Exchequer investment of €200m to fund new projects in a range of sectors including new road schemes, social housing to meet acute needs arising in that area and a range of tourist related works to help support long term jobs. It will also help to support a range of projects which commemorate the foundation of our State. As with previous investment packages, these projects will be spread around the country, and will create economic activity and employment on a regional basis.

The projects will be funded from the proceeds of the sale of State assets (BGÉ and ESB).

Speaking earlier today, the Minister noted that the construction industry is showing very promising signs of recovery which is helping to generate economic activity and create jobs. He welcomed recent figures which show that activity in the sector has increased in each of the last eight months, with the latest expansion the sharpest since December 2004. The rate of job creation in the sector has also increased continually over the same period.

The €200m investment being announced today is additional to the €3.3 billion capital investment that the Exchequer will be making this year.

On State asset sales, the Minister noted that significant progress is being made in the State assets disposals programme, some of the proceeds of which will be used to fund the Stimulus investment announced today.