Taoiseach: Extra €2bn investment 'will restore confidence'
The Taoiseach has said the Government's new stimulus plan will restore confidence in the economy and provide extra work in the construction sector.
The €2bn package will be approved by the Cabinet this morning, before being announced at a press conference this afternoon.
A number of projects will be given the green light, including roads, primary care facilities, schools and the new DIT campus at Grangegorman in Dublin.
Speaking on his way into this morning's Cabinet meeting, the Taoiseach Enda Kenny said the money was in addition to the €17bn capital programme planned for the next number of years.
Four sources of money are being used for the stimulus plan. They are:
- The sale of state assets;
- Revenues from public-private partnerships;
- The European Investment Bank;
- The National Pensions Reserve fund.
Speaking on his way into this morning's Cabinet meeting, Public Expenditure and Reform Minister Brendan Howlin said the Government is making progress on balancing the books, dealing with the bank debt and now, on domestic stimulus.
"The third leg of our strategy was to have domestic stimulus so that shovel-ready projects that have been waiting for funding could be advanced," he said.
