Further stimulus package announced


Ireland’s Minister for Public Expenditure and Reform, Brendan Howlin, says that the announcement yesterday of a €2.25 billion stimulus package will create around 13,000 new jobs.

The stimulus package will be funded by the National Pensions Reserve Fund, the European Investment Bank, Irish banks and private investment and will concentrate on infrastructure and capital projects in education health and transport.

The Dublin Institute of Technology is to get a new campus at Grangegorman with as many as 11,000 students attending by 2017. Also 12 new or replacement schools will be built.

Up to €115 million will be spent on twenty new primary care centres in healthcare and around €850 million will be spent on transport links, especially motorway projects in the south and west of the country.

Other announcements as part of the package include €190 million in the justice sector for a new Garda Divisional HQ, more new courthouses and a State Pathology Laboratory.

Minister Howlin stated that the new stimulus package is in addition to the €17 billion infrastructure and capital investment framework programme announced last November.

Ireland’s unemployment rate jumped to 14.9% in June.

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