Ibec, the group that represents Irish business, has said that Government must seize the opportunities of the unprecedented wealth-generating capacity of the Irish economy and deliver an ambitious programme of world class public services and infrastructure development.?
Following its submission to the mid-term review of the National Development Plan (NDP ) (see attached ), Ibec said that decades of chronic underinvestment in key infrastructure is threatening to undermine the prospects for economic recovery for the West.
Furthermore, such under-investment has catalysed quality-of-life challenges in areas such as housing, environment, health, childcare, and commuting, which are key to regional and national competitiveness and prosperity and require significant investment.
Ibec Senior Regional Executive Helen Leahy said: "A substantially enhanced and more ambitious ‘NDP Plus’ programme of investment will be vital to support the economic recovery of the West.
"Investment is needed to make the region more resilient and globally competitive due to Covid, Brexit and other global threats, with sectors such as tourism, leisure, and hospitality particularly exposed. The downgrading of the region by the EU from a ‘More Developed Region’ to a ‘Region in Transition’ makes a compelling case for accelerated investment.
"In rural areas across the West, tourism is a key economic driver. Tourism should be placed at the centre of the NDP as it has huge potential to contribute to the national policy of balanced regional development. Also, the delivery of key regional investment projects that will drive regional employment growth will be crucial post-pandemic. The Atlantic Corridor is key to balancing future development on the island. Strong transport links within the region and between regions are vital, and key projects need to be progressed with urgency and delivered.
"Covid has shown the urgent need for investment in digital connectivity, and the NBP delivery must be accelerated to allow the region to embrace the economic opportunities remote working may offer."
