TRAN S FO R M IN G CO R K
Review to Renew Minister for Public Expenditure and Reform Michael McGrath TD launches Review of the National Development Plan Project Ireland 2040 is the national plan to develop all regions, towns and cities of our country and improve the economic and social wellbeing of our people. It is made up of the National Planning Framework which sets the vision and strategy for the development of our country to 2040 and the National Development Plan provides enabling investment to implement the strategy.
As part of the review there will be an examination of the economic and social case for the overall level of capital expenditure commitment into the future and consideration of the appropriate share of capital expenditure across Departments and sectors. This will be designed to ensure we successfully deliver on the Government’s priorities, notably housing, health, climate action, transport and enterprise development. This will be done in a way that aligns with the spatial strategy set out in the National Planning Framework of compact development as well as city and regional growth targets. A further key area will be to assess whether the structures and rules for the management, governance and oversight of projects are in place to deliver on the ambitions of the revised NDP.
The review will be led by the National Investment Office in the Department of Public Expenditure and Reform. It will be conducted in close partnership with all Government Departments and relevant Agencies and will include a strong element of stakeholder engagement and public communication. In fact, the importance of well planned and executed capital expenditure has never been more important than it is now. Research from the IMF has shown that the multiplier effect that comes with capital investment is significant for advanced market economies, particularly so after an economic shock such as we experienced this year. We live in a time of huge anxiety and concern for our people which demands a comprehensive economic and social response from Government. We are grasping this challenge, delivering an enhanced
capital budget and putting in place the framework to ensure value for money and maximum impact. I believe Ireland will reap the benefits of this approach in the years ahead and I strongly encourage interested parties to fully engage in the process.
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It is prudent now to reassess our investment plans, update project costings and highlight any new issues which may need to be taken into consideration.
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In light of the Programme for Government and the challenges of Covid-19, it is prudent now to reassess our investment plans, update project costings and highlight any new issues which may need to be taken into consideration. I was, therefore, delighted to recently launch Review to Renew, an important and timely assessment of Ireland’s National Development Plan.
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