Oireachtas Joint and Select Committees

Wednesday, 3 July 2019

Committee on Budgetary Oversight

Summer Economic Statement: Minister for Finance

Photo of Paschal DonohoePaschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

Yes. The key area that we are working on is the development of a project on building information management or BIM. The aim is to develop a computer modelling of big projects that are due to be delivered in order to try to reduce the cost of the project when it is ready to be built.

On page 35 of the summer economic statement we also outline other things that have been done in relation to it. Probably the main area that we are examining at the moment is what can be done to increase the level of skill within the construction sector to, in turn, influence the level of productivity. The work that we have done would indicate that our productivity level for construction is 24% below the European average, and improving that is one of the ways we will address the output of that sector.

I thank the Minister. The summer economic statement raised awareness of the implications of a hard Brexit. Have other external threats to the economy, particularly issues around trade, been factored in? I refer to President Trump's comments yesterday regarding trade with the EU in the future. Mercosur is in the news at the present. It is a longer-term concern. Does the Minister see challenges and possibilities in the area of trade? I refer also to the challenges for trade in the event of a disorderly Brexit.


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