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02/06/2008
Cowen Reaffirms Commitment To NDP
Brian Cowen has reaffirmed his commitment to Ireland's multi-million euro National Development Plan, after uncertainty over the future of the nationwide infrastructural overhaul.
The Taoiseach has said the "significant" capital investment in the NDP2 programme would continue. Mr Cowen said there would be no change in his Government's strategic approach to the plans, but noted the importance of the future national economic performance.
At the launch of the National Development Plan, last year, the Government projected growth of 4% for the period leading up to the project's completion, in 2013.
Mr Cowen, addressing the IPA conference in Dublin, clarified his position on the NDP, saying a moderation in the rate of current spending is required, as tax revenues were no longer as buoyant.
This could result in a reduced investment in infrastructural regeneration, should economic growth fail to reach the target of 4%. The Taoiseach has accepted that achieving such growth could prove difficult in the current financial climate.
However, Mr Cowen expressed optimism in the potential of the economy, provided international markets improve.
The 2007-2013 National Development Plan’s investment in economic and social infrastructure, including education, hospitals and transport, totals around €184 billion.
(PR/JM)
The Taoiseach has said the "significant" capital investment in the NDP2 programme would continue. Mr Cowen said there would be no change in his Government's strategic approach to the plans, but noted the importance of the future national economic performance.
At the launch of the National Development Plan, last year, the Government projected growth of 4% for the period leading up to the project's completion, in 2013.
Mr Cowen, addressing the IPA conference in Dublin, clarified his position on the NDP, saying a moderation in the rate of current spending is required, as tax revenues were no longer as buoyant.
This could result in a reduced investment in infrastructural regeneration, should economic growth fail to reach the target of 4%. The Taoiseach has accepted that achieving such growth could prove difficult in the current financial climate.
However, Mr Cowen expressed optimism in the potential of the economy, provided international markets improve.
The 2007-2013 National Development Plan’s investment in economic and social infrastructure, including education, hospitals and transport, totals around €184 billion.
(PR/JM)
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