CIF welcomes increased capital spending noted in the Summer Economic Statement

The Construction Industry Federation has welcomed the increased capital spending announced in the publication of the Summer Economic Statement.

Capital spending will increase by over 10 per cent or €1.4bn in line with the NDP review and new allocations to €14.5 billion in 2025.

Hubert Fitzpatrick, Director General of the Construction Industry Federation said: “At a minimum, Irish society needs the construction industry to deliver 50,000 plus housing units annually from now until 2050. Our cities, provincial towns and regional communities require Irish construction companies to deliver billions of investments in critical infrastructure under the National Development Plan to drive economic growth.

“Unprecedented demographic growth and an ageing population will mean that Ireland’s demand for investment in critical infrastructure will reach beyond the existing capital ceilings, especially in housing and health. Government is familiar with the current capacity constraints of key portfolios including water, housing, energy, transport, health, and education.

“We urge Government to bravely lead Ireland in responding to these challenges by pursuing an expansionary Budget 2025 supporting investment in critical infrastructure to maintain jobs and foreign direct investment, enable innovation and productivity, and sustain strong economic growth.

“Coordinated public policy, in partnership with industry, has the potential to address competing environmental, social, and economic demands for the betterment of all present and future stakeholders in Irish society.”

The CIF will make its formal pre-Budget 2025 Submission to Government in the coming weeks.

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