Mr. Barry Aughey:

I thank the committee for the invitation to address this meeting. I believe the PowerPoint presentation has been shared with the members.

I will make a brief statement and, if needs be, we can go through the PowerPoint presentation if members have questions.

I am here to introduce the north-west corridor, a high-speed rail project. Post Brexit, the north-west region, which is already one of the most marginalised parts of the European Union, will become further marginalised. As we emerge from Covid and start to deal with Brexit, the Governments of both the UK and Ireland will draft and implement plans to rebuild and invest in the economies and livelihoods of all. Now is the time to think about how we can rebuild a more equitable and equal society. Infrastructure is the backbone of a strong and resilient economy. It will not just bring investment, jobs and opportunity but also will address social issues and help bring communities together. For the first time in 200 years, the younger generation is at risk of being financially worse off than their parents. A commitment to a high-speed rail project such as that for the north west will help prevent that.

The north west has been lacking infrastructural investment for more than 100 years, as is evident by the lack of rail infrastructure and a good motorway. The proposal I put before the committee relates to more than just a high-speed rail project; it is a spatial strategy, the catalyst to create opportunity for three new cities. It will bring balance to the island and the economy and accommodate population growth. It has been estimated by IBEC that the country's population will grow to almost 10 million people by 2050. It will promote a shared economy for both jurisdictions and people will come to live by the use of it. It will enhance productivity for companies while improving employees' well-being. It will bring talent and foreign direct investment to the regions. It will be the largest ever foreign direct investment on the island. It will bring life back into the towns and villages of the north west and enhance the competitiveness of Dublin and Ireland on the world stage. It will help reduce carbon emissions and lead to a prosperous society.

I will not waste any more of our guests' time. If they like, I can go through the PowerPoint presentation or address questions.