In a nod to the third partner in the country’s new ruling coalition, a significant part of the stimulus plan concerns itself with preparing “the economy for the challenges and opportunities that the future will bring… to transition successfully to the green economy of the future”.
That will see €10 million provided to support businesses engaged in 'green research' via a new Green Enterprise Fund.
Meanwhile, jobs and the environment are targeted en masse via a Retrofit Skills Training Initiative in support of a prospective future expansion of the National Retrofitting Programme, a commitment in the recent Programme for Government aimed at raising the energy rating of 500,000 homes by 2030.
4 Preparing Ireland for the Economy of the Future— MerrionStreet.ie #StaySafe #HoldFirm (@merrionstreet) July 23, 2020
- €25m Investment in Life Sciences
- Training and Skills Development
- €10m under a New Green Enterprise Fund
- Increase in Seed and Venture Capital for innovation driving enterprises#JobsStimulus https://t.co/rt6bvf7aab pic.twitter.com/fXsFVhADKR
Separately, some €500 million in capital funding is to be provided to “accelerate” works across multiple sectors — a move aimed at generating “jobs economic activity across all regions of the country”, according to the published plan.
That will include €113 million for active travel, public transport and the renewal of transport infrastructure; a €100 million investment in the aforementioned Energy Efficiency National Retrofit Programme; €60 million for the return of vacant local authority housing to use and investment in water infrastructure; and €15 million in peatlands rehabilitation.