As the political parties prepare to contest a May general election, members of the public can anticipate a range of promises and policies designed to improve both their quality of life and standard of living. As a society, we have come a long way since the last general election of 1997, in terms of wealth and economic development.
Economic growth rates averaged 10 per cent for four of those five years and last year's slowdown has shown signs of bottoming out. The Economic and Social Research Institute and other reliable forecasters are already talking about growth rates of 5 per cent during the lifetime of the next government. The days of spectacular development may be over, but higher-than-EU average, sustainable growth rates could provide a more benign environment in which to invest and plan for the future.
During the week, a series of articles entitled "Spending the Boom" charted some of the successes and failures of the past five years and reflected on the changes that have taken place in society. But economic and social policies are not stand-alone entities. They have their roots in the past and they evolve in accordance with both internal and external stimuli. Some of the key financial decisions of the next government will be influenced as much by international events, such as oil prices and world trade, as by domestic political considerations. In the same way, the evolution of social policy will be influenced by pressure on available resources and by the development of the European Union.
The projected growth of the economy has enabled the major political parties to promise to leave income and corporation taxes unchanged. After that, their ideas diverge, and they approach the issues of social and infrastructural investment by disparate paths. What is clear, however, is that advance planning is vitally necessary in a range of areas. And difficult decisions will have to be made to ensure value for money.
Ultimately, the success of the economy will depend on the provision of efficient transport and communications systems. A great deal of investment will be required in air, road and rail infrastructure if commuters are to be facilitated in getting to work in a reasonable time and goods are to be moved efficiently. Broadband technology must be provided through the roll-out of fibre-optic cable.
An expansion of housing and childcare facilities will be urgently required as the present cohort of young women workers become parents. Central to all of this is the need for a proper spatial strategy under the National Development Plan that will identify growth centres outside Dublin and provide the necessary infrastructure to make decentralisation work.
Finally, there are the social aspects to be addressed: investment in hospital and health care, better education services, a comprehensive policy on migration, responses to the problems of deprived communities and efforts to address the growing inequalities within society. It is an imposing policy agenda for discussion during the forthcoming election campaign.