October 11, 2021

Irish government announces biggest ever investment plan for transport, housing and nature

Green Finance in Ireland

The Irish Government has confirmed its largest national development plan in the history of the state, revealing the latest spending proposals for the next decade. The announcement includes a total investment value of £141 million between now and 2030 on several capital projects, including housing, transport infrastructure and biodiversity.

Irish PM Micheal Martin stated the plan was unprecedented in scale and would support the next stage of Ireland’s post-pandemic recovery and generate thousands of new jobs. The investment will support cross-border projects, with capital funding for the Shared Island initiative to double to over £850 million by 2030. Martin explains that the added revenue represents a significant increase in investment in infrastructure projects and will support several greenways, higher education, industrial and biodiversity plans.

Outlining the investment priorities, the Taoiseach explained they would prioritise the housing crisis and the climate emergency, at the same time focusing on reforming public services. The target includes constructing 300,000 new properties by the end of 2030 and a major shift in the planning system to manage the planning and legal issues which influence infrastructure and housing projects in Ireland.

The investment plans were communicated within the revised National Development Plan, an updated version of a capital plan, first proposed in 2018. The adjusted version is more expensive and ambitious and includes an additional spend of over £40 million.

The new plan includes a £30 million investment package for the transport system in Ireland, including plans for a new light rail system and over 1,000 km of green transport networks, walking and cycling infrastructure. Eamon Ryan, the Green Party leader and minister for the environment and transport, said the measures would enable a cleaner, greener and more connected Ireland.