IBEC backs call for infrastructural spend

EMPLOYERS’ body IBEC has weighed in behind the call for increased infrastructural spend by the incoming Government, but has added that an entirely new approach to funding is ultimately needed.

Through a new report — jointly published with accountancy giant, KPMG — IBEC is calling for the establishment of a new long-term capital expenditure plan that prioritises specific infrastructure projects. It also wants more PPP (public/private partnership) involvement and less exchequer funding. A new National Infrastructure Authority, combining the expertise of the existing National Roads Authority, Railway Procurement Agency and National Development Finance Agency, should also be set up, it claims.

According to Brendan Butler, director of policy at IBEC, Ireland is playing catch-up behind its continental neighbours. The country, he claims, still lags behind much of Europe when it comes to infrastructure and needs to catch up and can do so through a greater use of PPPs.