Housing is ‘central focus' of €30bn plan to boost investment and protect economy
An additional €10bn of this is to be set aside for 'specific strategic investment' across water infrastructure, the Dublin Metro project, and the electricity grid.
Public expenditure and reform minister Jack Chambers said the specific details of the 'ring-fenced' additional funding will be revealed on Tuesday.
Coalition leaders met on Saturday to finalise details around updates to the National Development Plan which will ramp up investment in key infrastructure in a move to make Ireland a more attractive place to invest.
Mr Chambers told Cabinet colleagues in recent weeks that investment in infrastructure is the most efficient way of safeguarding the economy, especially if the EU and the US end up in a trade war with tariffs above 10%.
Senior Coalition sources accept that a 10% tariff is 'baked in' but warn that anything above that could have serious impacts on the Irish economy.
Apple tax and AIB shares windfalls
They said that Mr Chambers has argued for windfalls from the Apple tax case and sale of AIB shares to be pumped into addressing infrastructural deficits in the National Development Plan (NDP).
Mr Chambers said this weekend that the Government will be seeking to 'provide the headroom' needed by Irish Water when it comes to providing additional housing supply.
'We've heard crystal clear the issues around the funding deficit which exists for Uisce Éireann, and the absolute need if we want to ramp up housing supply to address the concerns nationwide around water and wastewater infrastructure,' he told RTÉ's News at One.
The 'whole central focus' of this review in the NDP is housing supply and the infrastructure which supports it, he added.
There will also be a 'major uplift in our commitment to public transport, to roads projects and active travel', according to Mr Chambers.
An additional €10bn of the extra €30bn investment is to be set aside for 'specific strategic investment' including Dublin Metro.
However, Government also needs to 'ensure that in regions across our country, whether it's in the West or the South-West or elsewhere, that roads projects, which have been on the table for many years, are progressed', he added.
'That's fundamental to providing balanced regional development, addressing issues around road safety and ensuring we've got connectivity to our regions in the West of Ireland and elsewhere.'
Extra money will be allocated in the NDP to defence spending, Mr Chambers confirmed. He rejected the idea that spending on other areas would be limited as a result.
'We can't ignore serious infrastructure deficits in water and energy and transport and housing, and that's why they're being prioritised around the overall allocation,' he said.
The Government will also this week outline its summer economic statement, which will give a broad outline of the amount of money available both in this year's budget and over the next number of years in capital spending.
Meanwhile, part of the Government's response to tariffs will include a new fund to be announced by enterprise minister Peter Burke, aiming to help companies most impacted by tariffs to cope with increases in costs due to the Trump administration's tariffs.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
RTÉ News
an hour ago
- RTÉ News
Tánaiste pays tribute following death of Hilary Weston
The Tánaiste has paid tribute following the death of Hilary Weston, aged 83. Dublin-born Ms Weston, a former fashion model turned philanthropist and businesswoman helped build both Penneys and Brown Thomas as part of her husband's retail businesses. In early days of Penneys – she designed dresses which she had made up by local makers to put in the window for sale for young women and later brought international designers to Ireland. She met her late husband Galen Weston in 1963 while he was working in Ireland, and they married three years later and were together for 55 years until his death in 2021. Ms Weston served as a deputy chair of Holt Renfrew, was a director of Brown Thomas and Co. in Ireland, and a director of Selfridges Group based in the UK during her lifetime. She established the Ireland Fund of Canada in 1979, to raise money for good causes. "Her lifelong passion for the arts, education, health research, and volunteerism culminated in recent years with the creation of The Hilary and Galen Weston Foundation. "Since 2021, the foundation has committed close to $150 million to innovative charities impacting healthcare, education, women, refugees and the environment in Canada, Ireland and the UK," her family said in a statement after confirming her death. They added that as a public servant, Ms Weston lived a life of "deep and far-reaching impact". As Ontario's 26th Lieutenant Governor, she shone a light on the contributions of volunteers, women, and youth. She had a lifelong passion for the arts, education, health research, and volunteerism, they said. Tánaiste Simon Harris said he was "deeply saddened" to learn of the passing of Ms Weston. "Hillary was a very proud Irish-Canadian, who served both Ireland and Canada with distinction and generosity. "In addition to her successful businesses and public service in Canada, through her leadership of the Ireland Funds Canada, she made a lasting contribution to Irish-Canadian relations," he said. "I extend sincere condolences to her children Alannah and Galen, and the entire Weston family."
Irish Independent
an hour ago
- Irish Independent
Businesswoman behind Penneys and Brown Thomas Hilary Weston dies aged 83
The Dublin-born woman, who was also the former Lieutenant Governor of Ontario, passed away in England, where she had been living in recent years. She was born in Dún Laoghaire in 1942 as the eldest of five children and married Irish-Canadian billionaire Galen Weston in 1966. She was prominent in the early days of Penneys and later ran Brown Thomas after her husband bought the retailer. Ms Weston was later a vice-chair of the Weston's Canadian luxury retail chain, Holt Renfrew. A statement by her family said: 'A beloved wife, proud mother, cherished sister, adoring grandmother and loyal friend, Hilary's life was shaped by her quiet strength, enduring generosity, and a deep commitment to helping others. "Over their loving 55-year marriage, Hilary and the late W. Galen Weston supported each other in family, business and community life, with a mutual devotion to public service. 'From her early days working as a fashion model to support her widowed mother and younger siblings, to her decades as a distinguished business leader, philanthropist and public servant, Hilary lived a life of deep and far-reaching impact.' Tánaiste and the Foreign Affairs Minister, Simon Harris, paid tribute to the late businesswoman, describing her as a 'very proud Irish-Canadian, who served both Ireland and Canada with distinction and generosity'. In a statement he said: 'I was deeply saddened to learn of the passing of Hilary Weston.' 'In addition to her successful businesses and public service in Canada, through her leadership of the Ireland Funds Canada, she made a lasting contribution to Irish-Canadian relations. 'I extend sincere condolences to her children, Alannah and Galen, and the entire Weston family,' Mr Harris added. In a joint statement, Brown Thomas said: 'Everyone at Brown Thomas Arnotts is deeply saddened to learn of the passing of Hilary Weston - a truly remarkable person. Along with her husband Galen, her vision and enduring support for Irish culture and Irish enterprise laid the foundations for the success we enjoy today. 'On behalf of all of us at Brown Thomas Arnotts, we offer our heartfelt condolences to the Weston family at this time. Her memory and impact will not be forgotten.' In early days of Penneys, Ms Weston designed dresses which she had made up by local makers to put in the window for sale for young women to buy for Saturday night dances. She worked with her friend, Cecily Macmenamin, to support Irish designers, including Sybil Connolly, Paul Costelloe, Philip Treacy and Louise Kennedy. She also brought International designers to Ireland, such as Armani, Louis Vuitton, Hermes. In recent years she initiated the Hilary and Galen Weston Scholars at Trinity Business School and the MA in Sustainable Business. She said when receiving her honorary degree at Trinity that she went out to work so the boys could go to university. She is survived by her two children, Allanah Weston and Galen Weston Jr, and predeceased by her husband, Galen Weston, who died in 2021 following a long illness. In a statement, Galen G. Weston said: 'As Ontario's 26th Lieutenant Governor, she shone a light on the contributions of volunteers, women, and youth. Her lifelong passion for the arts, education, health research, and volunteerism culminated in recent years with the creation of The Hilary and Galen Weston Foundation. "Since 2021, the foundation has committed close to $150 million to innovative charities impacting healthcare, education, women, refugees and the environment in Canada, Ireland and the U.K. 'Hilary's business acumen was equally remarkable, helping to shape the future of luxury retail as deputy chair of Holt Renfrew and a director of Brown Thomas & Co. and Selfridges Group; and with her husband Galen, co-creating Windsor, a celebrated residential community in Florida, reflecting their shared love of design, architecture, and nature. 'Our mother lived with unwavering devotion to her family and a belief in the power and importance of community and service. Brilliant, brave, companionate, and beautiful, she brought a touch of magic to everything she did - in her decades of public service, philanthropy and her remarkable business career. Her greatest joy was the life she created for her family and friends—filled with warmth, love, and fun.'
Irish Independent
an hour ago
- Irish Independent
Businesswoman behind Pennys and Brown Thomas Hilary Weston dies aged 83
The Dublin-born woman, who was also the former Lieutenant Governor of Ontario, passed away in England, where she had been living in recent years. She was prominent in the early days of Penneys and later ran Brown Thomas for after her husband, Irish-Canadian billionaire Galen Weston bought the retailer. Ms Weston was later a vice-chair of the Weston's Canadian luxury retail chain, Holt Renfrew. A statement by her family said: 'A beloved wife, proud mother, cherished sister, adoring grandmother and loyal friend, Hilary's life was shaped by her quiet strength, enduring generosity, and a deep commitment to helping others. "Over their loving 55-year marriage, Hilary and the late W. Galen Weston supported each other in family, business and community life, with a mutual devotion to public service. 'From her early days working as a fashion model to support her widowed mother and younger siblings, to her decades as a distinguished business leader, philanthropist and public servant, Hilary lived a life of deep and far-reaching impact.' Tánaiste and the Foreign Affairs Minister, Simon Harris, paid tribute to the late businesswoman, describing her as a 'very proud Irish-Canadian, who served both Ireland and Canada with distinction and generosity'. In a statement he said: 'I was deeply saddened to learn of the passing of Hilary Weston.' 'In addition to her successful businesses and public service in Canada, through her leadership of the Ireland Funds Canada, she made a lasting contribution to Irish-Canadian relations. 'I extend sincere condolences to her children, Alannah and Galen, and the entire Weston family,' Mr Harris added. In a joint statement, Brown Thomas said: 'Everyone at Brown Thomas Arnotts is deeply saddened to learn of the passing of Hilary Weston - a truly remarkable person. Along with her husband Galen, her vision and enduring support for Irish culture and Irish enterprise laid the foundations for the success we enjoy today. 'On behalf of all of us at Brown Thomas Arnotts, we offer our heartfelt condolences to the Weston family at this time. Her memory and impact will not be forgotten.' She is survived by her two children, Allanah Weston and Galen Weston Jr, and predeceased by her husband, Galen Weston, who died in 2021 following a long illness. Hilary Weston, née Frayne, was born in Dún Laoghaire in 1942 as the eldest of five children.
