More investment in infrastructure urged

SMALL BUSINESS group Isme has called on the Government to continue investing in the National Development Plan (NDP).

Speaking at the association’s annual conference in Croke Park yesterday, Isme chairman JJ Killian warned of the dangers of scaling back on the NDP and said prioritising the delivery of key infrastructural projects on time and within budget was of paramount importance.

On Thursday it emerged that the exchequer deficit had reached €9.4 billion – three times the size of the deficit this time a year ago – while the amount of tax collected by Government is now almost €3.6 billion or 11.2 per cent behind projections made at the start of 2008.

Mr Killian said that, while it might be tempting to cut back on capital expenditure and to reduce allocated expenditure for key infrastructure in order to stabilise public finances, this would be a mistake.

He claimed that roads, rail, broadband and waste facilities were still badly needed to generate a more productive and efficient economy to ensure that Ireland is in a position to compete when the global economies bounce back from their current difficulties.

“Ongoing investment is required to correct our infrastructure deficit and action has to be taken to speed up major projects,” Mr Killian said.