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The Journal
3 hours ago
- Business
- The Journal
How will Ireland divvy out €200 billion? 5 politicians are signing off on big decisions today
THE LEADERS OF the coalition will meet with the two money ministers this afternoon to finalise capital expenditure plans for the coming decade. Tomorrow, a review of the National Development Plan (NDP) — which sets out government infrastructure spending up to 2035 — will be published by the government. Overall, €200bn in spending is planned for the coming decade, with an additional €30bn being injected into Ireland's infrastructure since the plan was first announced. This money will be made up of the €14bn Apple Tax , the sale of shares in AIB, and money from other State funds, including the Infrastructure, Climate and Nature Fund. Taoiseach Micheál Martin, Tánaiste Simon Harris, and Minister of State Seán Canney (who represents the Regional Independents in government) will today meet with Finance Minister Paschal Donohoe and Minister for Public Expenditure Jack Chambers to flesh out which Departments the additional money will be directed to. Advertisement Speaking on RTÉ Radio 1′s Morning Ireland earlier today, Canney said the 'broad figures' for each Department will be announced tomorrow, but it will be at a later date that each Department will publish its implementation plan for the spending. Canney was tight-lipped on details about what will actually be announced, however, he stressed that it will be important that what is announced is 'functional' rather than 'award-winning'. 'Especially in housing and in hospital infrastructure,' he said. 'I think most people would like to have a home that's comfortable and functional rather than have an award-winning housing estate from an architectural and aesthetic point of view. 'So that's that's the key message in this National Development Plan, is that we're here to make sure that whilst we're putting more money in, we want to see more coming out at the other end, and want to see it coming out quickly.' On top of the main takeaways from the publication of the NDP review tomorrow, the announcement may also give us a further glimpse into what the Regional Independent TDs secured as part of their government formation deal. For example, Canney, who is minister of state in the Department of Transport with responsibility for roads, confirmed that more road projects will be given the go-ahead as a result of tomorrow's announcement. Readers like you are keeping these stories free for everyone... A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation. Learn More Support The Journal
Irish Post
5 hours ago
- Business
- Irish Post
Hundreds of billions set for Irish infastructure and development plan
THE Irish Government is set to approve a revised National Development Plan (NDP), unlocking €200 billion in infrastructure investment over the next decade. The new strategy, which outlines €100 billion in spending from 2026 to 2030 and a further €100 billion from 2031 to 2035, is being positioned as a cornerstone of Ireland's long-term economic prosperity. At the heart of the plan is a drive to modernise Ireland's essential infrastructure, particularly in housing, transport, energy and water services. Public Expenditure Minister Jack Chambers described the plan as a 'step change' in capital investment, stating that the goal is to tackle infrastructural shortfalls while positioning Ireland competitively on the global stage. The revised NDP includes a €30 billion boost in spending over the next five years, a rise from the €20 billion previously earmarked for this period. This increase has been made possible, in part, by Ireland's €14 billion windfall from the Apple tax case and revenue from recent sales of state-held shares in AIB and other bailed-out banks. Central to the government's strategy is a focus on basic utilities, such as water and sewerage systems, which are currently blocking housing development in Dublin. Without new treatment capacity, councils may soon be unable to approve planning applications. Uisce Éireann has called for an additional €2 billion on top of existing funding to tackle growing demand and modernise outdated infrastructure, including the already overstretched Ringsend plant. The NDP also earmarks funds for electricity infrastructure, responding to surging demand driven by population growth and the rapid expansion of energy-hungry data centres, which now consume over 20 percent of Ireland's electricity supply. The revised plan reflects a shift in government priorities on transport spending. The previous coalition's 2:1 ratio favouring public transport over roads has now been dropped. Chambers confirmed that while public transport and active travel will receive a major uplift, road projects in regions like the west and southwest will also move forward, many of which have been delayed for years. Flexibility will be given to Transport Minister Darragh O'Brien to scale funding up or down depending on local needs. Despite mounting pressure, the NDP does not list individual projects yet, including controversial initiatives such as the Dublin Metro, which remains in limbo with an estimated cost of up to €23 billion and a new potential completion date of 2035. Defence will also receive increased funding, a notable change for a country with a long-standing policy of neutrality. With the war in Ukraine ongoing and rising tensions in global trade, concerns have mounted over the vulnerability of undersea cables and pipelines in Irish waters. While Ireland has resisted calls to join NATO, the government has acknowledged the need to modernise the Army, Naval Service, and Air Corps, suggesting that defence spending will no longer be left on the periphery of national planning. Officials have been keen to underscore that the economic backdrop for this plan is unlike anything seen in recent years. Speaking ahead of the Summer Economic Statement, Tánaiste Simon Harris stated the importance of being prudent and realistic in projecting figures, warning that the global environment requires cautious but decisive action. Junior Minister Seán Canney reinforced the need to plan even as global risks loom, saying that Ireland cannot afford to wait for clarity on issues like tariffs before preparing for the future. Despite the scale of ambition, the full list of projects funded by the plan won't be released for several months. Climate advocates, regional representatives, and opposition parties will be watching closely to see whether the government can strike a balance between long-term sustainability and immediate infrastructural demands. As billions are committed to reshaping the country's future, the challenge now is not just allocating funds but ensuring that delivery matches expectation.
Extra.ie
10 hours ago
- Business
- Extra.ie
Trump's tariffs may derail €30bn Metro splurge
Spending of €30billion on infrastructure, including the Dublin Metrolink, over the next six years will be announced tomorrow – but sources say the plan depends on Donald Trump's tariffs. Details of the National Development Plan (NDP) are expected to reveal a plan of works that will see a major upgrade of roads, the water network and the power grid. Today's top videos STORY CONTINUES BELOW Jack Chambers, Minister for Public Expenditure and Reform, said yesterday that the cash will focus on areas in need of urgent development. The extra funding is possible following the sale of AIB shares and the €14billlion Apple tax windfall. Jack Chambers, Minister for Public Expenditure and Reform. Pic: Sam Boal/Collins Photos He said: 'It's across three specific areas, namely water and wastewater infrastructure, the Metro project and also the necessity to provide investment in our grid.' Mr Chambers said the upgraded NDP 'gives an opportunity for transformation and investment' in the economy over the next five to ten years. Asked where the extra €10bn is coming from, the minister said it is 'part of our medium-term economic planning', adding that the Government is prioritising capital investment over the medium to long term. He said an 'additional uplift' is needed to address areas that 'can't wait any further'. Speaking on RTÉ radio, Mr Chambers said the timeline of the Dublin MetroLink is dependent on the planning system. MetroLink Dublin. Pic: MetroLink Already, €35million of taxpayers' money has been spent on metro consultancy fees. The revised NDP comes as Uisce Éireann said it needs an additional €2billion, on top of €10.3billion already allocated for capital spending, and ESB Networks says it needs an extra €1billion as part of its €13.4billion spending plan. It is understood that there will also be extra funding for Eirgrid. The NDP is expected to be agreed today by Taoiseach Micheál Martin, Tánaiste Simon Harris, junior transport minister Seán Canney, Finance Minister Paschal Donohoe, and Mr Chambers. It will contain spending plans for housing, water, energy and transport. The spike in spending is a final attempt to solve the housing crisis. Spending allocations for departments such as Housing, Health, Transport, and Education will be decided by the leaders. Fianna Fáil leader Micheál Martin and Fine Gael leader Simon Harris. Pic: Maxwell's Mr Martin and Mr Harris met on Saturday at 5 pm to make final decisions, and negotiations are ongoing. But concern is high that the Trump tariff proposals may scupper the plans. One source said: 'All eyes will still be on Trump when the new plan is launched. These plans are all conditional on Trump coming to a deal on tariffs.' A minister warned: 'He [Trump] really casts a long shadow. He negotiates in headlines. You might think you've a plan nailed down, but if he has a bad Epstein morning, in the afternoon, he could come out with a 30% tariff. US President Donald Trump. Pic:) 'We thought we had pharma locked away and then he puts it back on the table. He has a different plan for breakfast, dinner and tea.' Another said: 'Everything in the locker is being thrown at this. It is a once-in-a-generation opportunity.' The Government will use the Summer Economic Statement and the NDP to send a message about current and windfall one-off expenditure. One senior figure warned: 'The message we need to send out now is when it comes to the budget, it will be 'Brace yourself, Bridget' time,' while another minister warned: 'It is back to McCreevy economics: when we don't have it, we don't spend. The age of €1million social houses is over. It was the apogee, the end of the cycle.' A source added: 'Paschal and Jack are in total control. We don't want to repeat past Celtic Tiger errors when we cut back on infrastructure spending at the wrong time. The line is being laid down this week. We do not want a summer of leaks, particularly when there is nothing good to leak.' Additional reporting by John Drennan
Irish Times
11 hours ago
- Business
- Irish Times
Irish deal-making up 4%, bucking European trend
Irish merger and acquisition (M&A) activity continued to buck European and global trends in the first half of the year, with the volume of deals involving companies in the Republic rising modestly compared to last year. Yet, the total value of transactions fell by more than half over the period, according to a new report from William Fry , as the value of large-cap deals plummeted. As is typical, the majority of M&As in the six months to the end of June involved mid-market companies, the law firm said, but there were some larger transactions of note over the period. The biggest deal in the first half of 2025 was the €1.9 billion acquisition of Limerick-based Nordic Aviation Capital by a subsidiary of the sovereign wealth fund of the United Arab Emirates in May. READ MORE The transaction was one of five with a price tag of more than €500 million in the first half of the year, matching the volume of larger deals over the same period in 2024, William Fry said. Other transactions of note this year include conglomerate DCC 's sale of its healthcare division for €1.2 billion to London-based private equity firm Investindustrial Advisors, and the Government's €1 billion disposal of its remaining 8.23 per cent stake in AIB . Overall, 236 deals were announced in the first six months of the year, the law firm said, up 4 per cent from 227 in the first half of 2024. Over the same period, deal volumes fell by 19 per cent across Europe, according to the report. David McWilliams on how 'big incentives' to build could save Dublin city Listen | 36:51 However, the total value of transactions announced in the Republic this year was €8.8 billion, down 51 per cent from the first half of 2024. This was largely due to a 'slowdown in large-cap' and 'transformational' deals worth more than €500 million, according to the report. Specifically, the first half of last year saw several larger-scale deals, including Apollo Global's €10.1 billion buyout of its stake in Inte l's Leixlip plant, which pushed up the total. Andrew McIntyre, head of corporate and M&A at William Fry, said the modest increase in deal volume suggests the market here remains resilient despite global headwinds. 'While deal values moderated due to fewer large transactions, the data highlights the strength of Irish assets,' he said. 'International interest is strong, and private equity is showing renewed momentum in the mid-market.' According to the report, inbound M&A continues to dominate the Irish market, accounting for 63 per cent of all deals here, up from 57 per cent last year. Some 148 inward investment transactions were announced over the period, 81 of which were in the first three months of the year alone, William Fry said. Global deal-making has been hampered in the first half of 2025 by heightened geopolitical tensions and uncertainty around tariffs and other trade-related issues. At the macroeconomic level, the slower pace of global economic growth now forecast this year by the likes of the International Monetary Fund should be considered headwinds for Irish M&A activity, Mr McIntyre said. However, he said there are 'reasons for cautious optimism' with several high-profile deals announced early in the second half of 2025, like Dalata's €1.4 billion sale to Swedish property group Pandox.
Business Post
13 hours ago
- Business
- Business Post
Darkening economic outlook clouds investors' view of AIB and Bank of Ireland
Business Post subscribers can read: • The specific issues driving the decline in the pillar banks' share prices • How the dip today compares with the decline recorded after Liberation Day • What banking experts have to say about the share price movement The drop in the share price of AIB and Bank of Ireland is based 'entirely off Irish sentiment' and our economy's dependence on foreign direct ...
