Ireland's newest think tank - the Nevin Economic Research Institute (NERI) - has proposed a new €15 billion stimulus and investment programme aimed at creating jobs, boosting demand and aiding economic recovery. The ambitious proposal was outlined at the formal launch of the Institute in Dublin on March 27, 2012. Crucially, the programme of investment over five years will not add one cent to the Government debt or be an additional burden on the taxpayer. Social Justice Ireland welcomes this proposal as an attempt to move Irish public policy in the direction needed if the economy is to recover and unemployment is to be reduced by means other than emigration.
NERI is a new, all-island think tank on economic policy that is funded by a number of trade unions affiliated to the Irish Congress of Trade Unions.Details of the investment programme are contained in NERI's new, regular publication - the Quarterly Economic Observer (QEO).
According to the QEO the funds for the investment programme can be sourced from Ireland's own National Pension Reserve Fund; from private Irish pension funds - most of whom have their resources invested overseas - and from the European Investment Bank (EIB). According to NERI the investment should be targeted at areas such as broadband provision, water infrastructure, energy, early childhood education, and retrofitting of homes. In addition, the Institute also said that there should be a further £5 billion investment programme for Northern Ireland.
The NERI Quarterly Economic Observer for Spring 2012 may be accessed here.
Further information on the new Institute may be accessed at www.nerinstitute.net