Taoiseach to Announce Massive Capital Investment Stimulus

The Taoiseach, Mr Brian Cowen TD, will today announce that the Government has decided to press ahead with capital investment of over 39 billion euros for the period up to 2016.

Some of the main areas for investment will be public transport, roads, schools, health facilities, the environment, energy efficiency, broadband, R&D and support for jobs and enterprise.

The Taoiseach will publish the Government's Infrastructure Investment Priorities 2010-2016, which includes in-depth analysis and reprioritisation of the capital expenditure programme.

Speaking in advance of the launch, the Taoiseach said:

" Investment in infrastucture is an investment in the future of the Irish people. I believe this is exactly the type of stimulus that the economy needs to help rebuild confidence and accelerate economic recovery.

It will not only greatly improve the lives of our citizens, it will help to create jobs now and to sustain jobs for the future.

We have seen the benefits of the investment of recent years and we believe it is essential to maintain that momentum for the coming years.

We also recognise that we are in a new situation, so have refocused our priorities.

That is why, for example, there will be a doubling of investment through the enterprise agencies to help build the Smart Economy and to create sustainable jobs.

There will also be a greater share of investment for public transport and environmental issues such as upgrading our water services.

With the national motorway network nearly completed and tender prices significantly reduced, we are in a position to press ahead with a new capital investment programme that is ambitious, appropriate and affordable."

The Taoiseach will be accompanied by the Minister for Finance and the Minister for the Environment, Heritage and Local Government at the publication of the Government's plan.