Ibec calls for more social spending

The country risks missing a once in a generation chance to renew national infrastructure and private sector finance must be harnessed to deliver vital public investment, the chief executive of business and employer group Ibec will tell its business leaders conference today.

In an address to the annual event, Danny McCoy will warn that failure to take more decisive steps to relieve pressure on transport, housing, education and health infrastructure risks creating serious long-term economic and social problems.

Mr McCoy will say: “We must not let the austerity mindset of the crisis dictate economic policy into the future. To benefit from the economic opportunities that now exist, we need to massively ramp up infrastructure spending. But the Government is not embracing this ambition.”