Increased Capital Investment Essential to Meet Demands of Growing Population

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Press Release Thursday 14th July:  Commenting on the release of the preliminary Census 2016 population figures, Mark O’Mahoney, Director of Policy and Communications, Chambers Ireland said, “The Census 2016 preliminary results show an increase of 3.7% in our population which confirms what previous projections had highlighted: that there will be increased pressure on state resources over the coming years to meet the increased demand for services created by a growing population. This domestic population growth is likely to be further increased due to further inward migration from overseas as our economy continues to perform strongly.”

“It is crucial that Government prioritises increases in capital investment in the short term to ensure that our housing, transport and education infrastructure can cope with our growing population. We recognise that efforts have been made to increase the capital budget allocation and that there are limited available resources, however it is only through sustained capital investment that Ireland can avoid future infrastructural bottlenecks that will hinder our economic growth.”

“While a growing population does present its challenges, if Ireland can get its capital infrastructure right, a growing population will provide some very good news for the country and the economy. The population increase will mean more consumers and increased consumer spending, more workers for a growing economy, and ultimately more tax revenue. It will also help with our growing challenge in demographic dependency ratios as we will have more future workers to support older dependants over the longer term.”

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