Commenting on the data released in yesterdays (23 August 2016) QNHS, Ian Talbot, Chief Executive Chambers Ireland said, “The 1% increase in employment during April – June 2016 brings Ireland’s level of employment to the highest level since Q4 2008. The growth in employment is a positive indicator for the strength of the Irish economy but also signals the need for Government to invest in the infrastructure necessary to support an increased workforce. Immediate and sustained investment in housing, transport, education and childcare is essential if we are to avoid infrastructural bottlenecks that can potentially hinder our economic growth. This must be a priority as part of Budget 2017.
We also welcome the population and migration figures which show that inward migration has exceeded outward migration for the first time since 2009. Net inward migration along with an increasing population will place further demand on state resources in the future, highlighting further the need for Government to prioritise investment in infrastructure as a matter of urgency.”
Chambers Ireland Pre-Budget Submission can be downloaded here.
Information on the submission:
The Irish Chamber Network’s Pre-Budget submission makes recommendations across three areas:
Supporting Growth through ensuring we have a sustainable revenue streams through a broad tax base and that our taxation system do more to support enterprise and encourage entrepreneurship;
Where we need to invest identifies the investment in infrastructure necessary not only to protect our ability to attract investment but also to ensure our indigenous economy can continue to grow;
Securing our future outlines priority areas to help us prepare for economic headwinds by implementing long term policies to ensure our sustainable growth.
Some of our key infrastructure asks:
- Prioritise and accelerate investment in the roll out of the National Broadband Plan to areas where there is a capacity to generate an economic activity amongst local businesses.
- Restore funding in land transport to long run average rates for developed countries; additional capital funding should be front loaded to ensure our transport network can cope with current demands.
- Enhance urban connectivity as a priority.
- Prioritise the funding for steady state maintenance of our road infrastructure to prevent the network from depreciating further.
Education and Skills
- Capital allocation to the Department of Education must be increased
- A plan for long-term for investment into childcare services,
- Introduce subsidies conditional on educational quality standards being met
- Develop a national policy to ensure the effective provision of accessible after-school care. This should involve using facilities of public schools