From Department of Public Expenditure, NDP Delivery and Reform
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**Check Against Delivery **
This is a very worthwhile opportunity to talk with the British Irish Chamber today on public investment priorities for the island of Ireland.
I’m very glad to do so, speaking alongside my counterpart in Northern Ireland, Minister for Finance, Conor Murphy.
The collaborative nature of the discussion this afternoon, mirrors the joined-up approach we would like to see to public investment on the island of Ireland.
I know the Chamber will agree, that in looking at the economic, social and geographic context for public investment on the island of Ireland, there are both North/South and East/West dimensions to how we can work together, with opportunities in both directions.
I am sure that Chamber members will agree, that when we talk about public investment, a key part of the conversation is about stimulating private investment and enterprise, as we look to meet the needs of the island in a sustainable, inclusive way.
At its core the Government’s Shared Island initiative is about being more ambitious and focused on practical actions to meet common challenges and to take up opportunities, in a cooperative way across the island of Ireland. In essence we are seeking to work for a shared future. Public investment is central to how the Government will aim to achieve that in the years ahead.
In October, we set out our approach; our resource commitment; and our priorities, in the Shared Island dimension of the revised National Development Plan. And yesterday, the Taoiseach elaborated the vision for the next phase of the Government’s Shared Island approach, with a range of new initiatives to be taken forward next year.
By 2040, the island of Ireland will be home to around 8 million people. An increase of more than 1 million on today. This will bring about both huge opportunities and challenges.
It makes sense to think, plan and invest in a coordinated way to realise the full benefits of that historic population growth.
We also have connected environmental, economic and infrastructure challenges and needs for the years ahead, which pertain for the island as a whole.
Not least, the generational challenge and whole of society transition involved for both jurisdictions in reaching a net-zero carbon future by 2050.
Given these common challenges and opportunities, we know that there will be considerable alignment of public investment priorities, North and South, in the decade ahead. This will particularly be the case in areas such climate action; digitisation; sustainable transport connectivity; and balanced regional development.
There are clear opportunities to work more coherently and with greater impact in these areas, through joint and coordinated investment on a North/South basis.
For example, there can be real advantages from investment at an all-island level. From renewable energy networks to resourcing for specialist medical services it is truly the case that scale matters.
There are also different and complementary sector capacities, North and South, that can be better joined up. For instance, on research, development and innovation.
Likewise, Local Authorities in border counties know well that sustainable regional development is far better pursued in collaborative ways, and not back to back.
Finally, there are the connected systems for our island - transport, energy, communications, water - that we need to upgrade, decarbonise and digitise, in coherent, interoperable, ways.
In this context, the revised National Development Plan sets out how the Government will work in partnership - with the Executive, UK Government, the European Union and with Local Authorities - for more effective public investment, for the island as a whole.
There is a total resource commitment of more than €3.5billion for all-island investment in the decade ahead: through the Shared Island Fund, our Project Ireland 2040 funds and funding for North/South cooperation; and, the PEACE PLUS programme.
The total NDP funding itself consists of €165billion over 10 years.
This will create significant business and employment opportunities, North and South, given the skills and labour demands generated by infrastructure, green and digital investment.
It will support new jobs - close to home for people, wherever they live on the island.
Through the revised NDP, we have set out Shared Island investment priorities, to work through all-island partnerships for a more connected, more sustainable and prosperous island.
In the first instance, it is very important that existing cross-border commitments are delivered on. This includes the Ulster Canal restoration, the Narrow Water Bridge project and the vital upgrade of the A5 North West transport corridor.
The Government is firmly committed to delivering this. We are working intensively with the Executive to press ahead without undue delay on these projects, and with the benefit of resourcing under our Shared Island Fund.
We also want to develop and deliver a new generation of cross-border public investments -matched to the environmental, economic and social needs of our shared island in the decade ahead.
Already in July, the Government launched a major new €40m North/South Research Programme - to bring institutions and researchers together across the island, supporting knowledge bases and networks, across all disciplines. There has been a huge response to the first call for applications by the Higher Education Authority and I warmly welcome this.
We are also working with the Executive and the UK Government, to establish new all-island research centres. These will conduct world-leading research and innovation, by joining up complementary research and industry capacity across the island. This will include areas of shared priority for both jurisdictions - such as Climate, Cybersecurity, Digital Health, and Precision Medicine.
This will be led on our side by Science Foundation Ireland, and supported by our Shared Island Fund. The objective is to enhance the R&D base that is fundamental for high-value enterprise growth and investment on the island.
As part of the NDP process this year, we engaged with the Executive, the UK Government, and with Local Authorities, business representatives and other stakeholders across the island to help shape our priorities, which extend across virtually all sectors.
These include:
As the Taoiseach set out yesterday, these investment priorities are now being taken forward across Government; led by Ministers, through their Departments, and working with Executive counterparts as well as UK and European partners, so that we move forward next year with a suite of new investment and cooperation initiatives for the island
A really important part of the picture is the PEACE PLUS programme, which is supported by the Government and Executive with the European Union and UK Government.
PEACE PLUS comes on-stream next year, and will provide over €1billion in the period to 2027 - supporting peace and sustainable development across Northern Ireland and the border counties, and building on the work of the preceding PEACE and INTERREG programmes.
PEACE PLUS is directly complementary to the capital investment we are bringing to bear through the Shared Island Fund and Project Ireland 2040. It will support a range of practical actions that contribute to connectivity, prosperity and sustainability across the island.
Among the many planned PEACE PLUS programme elements are: a cross-border skills programme; innovation challenge fund; geothermal energy pilot; sustainable rolling stock upgrades; and, investment in smart towns and villages.
PEACE PLUS is a major demonstration of the European Union’s enduring commitment to peace and progress on the island of Ireland, and to supporting that through sincere and ambitious partnership with the UK Government.
In addition to our cooperation through PEACE PLUS, we also see potential to invest in coordinated ways, for instance with the City and Growth Deals in Northern Ireland.
We will work to make linked and joint investments, through close working relationships with our colleagues in the Executive, with the UK Government, and supporting cross-border Local Authority partnerships, both through the border region and beyond.
So, that’s the Government’s prospectus for public investment on a shared island:
I look forward to listening to Minister Conor Murphy on the view from the Executive, and to a discussion with Chamber Members.
Thank you.
ENDS
Contact:
Claire Godkin - Press Officer, Department of Public Expenditure and Reform - pressoffice@per.gov.ie