What has changed?

• Irish Water will now be more dependent on exchequer funding than previously expected. This reduces the potential for increased capital expenditure on water, wastewater and transport infrastructure.

Positives for business

• The Government promises to ‘protect’ existing capex commitments, including water services and broadband, and to conduct mid-term review of the capital programme in 2017.
• The Government will seek to streamline the planning process.
• Better transport links to our ports and airports remain a priority.
• Ibec welcomes commitment to apply, in the first three months, to the European Union for the revision of the TEN-T CORE Network, including applying for the reinstatement of the cross-border Western Arc.

 Outstanding issues and missed opportunities

• It is now unlikely that Irish Water’s debt finance can be moved off the national balance sheet.
• The artificial constraint on public-private partnership finance for new road projects has not been relaxed.