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.
Contact Neil Walker, Infrastructure policy at neil.walker@ibec.ie
Registered directors: Gerry Collins (President), Gary McGann, Larry Murrin, John Kennedy, Paul Rellis, Fergus Murphy, Danny McCoy (CEO), Ann Heraty, Leo Crawford, Regina Moran, Paraic Curtis, Edel Creely, Kevin Toland, Brian MacCraith, Siobhan Talbot. Liam O’Donoghue (Company Secretary)