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Social Justice Ireland proposes new €7bn 3-year investment programme to boost growth, jobs and recovery - 2014 Budget
Ireland’s current level of investment is the lowest of any EU country.
- Ireland has lowest investment level of ALL 28 EU countries.
- €7bn Investment over 2014-16 would be funded by off-balance sheet sources
- Focused on 9 key areas with long-term gains such as renewable energy, social housing, care facilities.
- Without investment there will be no jobs, without jobs there will be no recovery and without recovery Ireland will be stuck in austerity.
Ireland’s current level of investment is the lowest of any EU country. All other countries experiencing crisis in recent years have substantially higher levels of investment than Ireland. The scale of investment must increase if we are to have growth, jobs and recovery Ireland, according to Social Justice Ireland‘s latest Policy Briefing titled 'Investment for Growth, Jobs and Recovery'.
In this Policy Briefing Social Justice Ireland argues that boosting investment can play a key role in generating much needed growth and employment. It proposes:
- a three-year €7bn investment programme
- funded from off-balance sheet sources including the Irish Strategic Investment Fund, commercial semi-state borrowings, domestic pension fund investment and funds from the European Investment Bank (see p. 5)
- structured as €2.5bn in 2014, €3bn in 2015 and €1.5bn in 2016 (see p. 5)
- focused on areas including renewable energy; new social housing units; primary care facilities; energy efficiency; school facilities; early childhood care and education; public healthcare facilities; non-national road improvements; and water services and facilities (see p.5 )