Taoiseach Enda Kenny, Tánaiste Eamon Gilmore and Public Expenditure Minister Brendan Howlin today launched the Medium Term Exchequer Investment Framework at a press conference in Goverment Buildings.
Listen to the Taoiseach's speech at the launch below...
Listen to the Tánaiste's speech below...
Listen to Minister Howlin's speech below...
Ministers Quinn, Reilly, Bruton and Varadkar today also announced details of the Capital Investment Framework for their Departments.
Education Minister Ruairi Quinn said that his priority is now to focus on major school projects and smaller projects devolved to schools to meet the demographic demands.
“The primary aim will be to ensure that every child will have access to a school place,”
he said.
The Framework includes an allocation for education capital of just over €2.2bn over the five years of the plan – an average annual allocation of just over €440m.
The investment for the next five years will provide over 100,000 permanent school places of which over 80,000 will be additional school places – the remainder will be replacement of temporary or unsatisfactory accommodation. This substantial investment will result in over 11% of the total school population benefiting from new permanent places delivered during the period 2012 to 2016.
Read the press release on the Education investment framework here.Health Minister James Reilly today welcomed the Government’s decision to maintain the existing levels of health capital investment.
Over the years 2012-2016 an investment of €1,950m or €390m per year will be made in health infrastructure.
In particular, the funding will support the delivery of three high priority national projects -
The National Children’s Hospital, and the associated ambulatory & urgent care centre in Tallaght, confirming the Government’s commitment to delivering quality services in modern facilities for the children of Ireland;
The replacement of the Central Mental Hospital which dates from 1850 with an appropriate modern facility for treating and caring for patients with mental illness; and
The National Project for Radiation Oncology, recognising the demonstrated need for extra radiotherapy capacity and the obvious impact of this treatment on patient mortality and morbidity.
Read the press release on the Health investment framework here.It was also announced today that investment in Jobs, Enterprise and Innovation will increase from €508million to its highest ever level of €514million in 2012, reflecting the priority accorded to job-creation by this Government.
The 5 year capital programme announced today will allow:
A 4% increase in the Enterprise Ireland capital budget in 2012
A 10% increase in the number of high potential start-up Irish companies supported in 2012
A 20% increase in the number of Innovation Partnerships
€18million spend on Innovation Fund Ireland in 2012 to further improve the Irish venture capital industry
New technology centres in Cloud, E-learning and Financial Services to be commenced in 2012
Delivery of the Partial Loan Guarantee Scheme
Full protection of the IDA capital budget over the period of the programme, to enable delivery of the “Horizon 2020” strategy
Full support in 2012 for the SFI research community of over 3,000 researchers, including research teams working with over 500 industry partners
Maintenance of the Programme for Research in Third Level Institutions
Doubling the number of Technology Innovation Development Awards to 200 in 2012
Full maintenance of the County Enterprise Boards’ budget
Read the press release on the Jobs investment framework here.
Transport and Tourism Minister Leo Varadkar today confirmed that investment in transport infrastructure will be scaled back significantly over the next five years in order to allow the Government to meet its commitments in health and education, restore our economic sovereignty, and keep taxes down.
The Minister confirmed that the main construction work will start on Luas BXD in 2015, while there will be ongoing investment in smarter travel projects, and two rounds of sports capital funding. There will also be investment in tourism capital including support for a diaspora centre or museum as an iconic tourist attraction.
The Minister announced:
- Luas BXD to commence in 2015 – Metro North & Dart Underground deferred
- Concentration on maintaining existing roads, railways and replacement of rolling stock & buses
- Road projects generally suspended but very limited number will proceed
- Ongoing tourism investment & sports capital programmes
Read the press release on the Transport and Tourism investment framework here.Read the Taoiseach's speech from the launch here.Read the Tánaiste's speech from the launch here.Read Minister Howlin's speech from the launch here.Read the full document "Infrastructure and Capital Investment 2012-2016: Medium Term Exchequer Framework" here.