Oireachtas Joint and Select Committees
Wednesday, 8 February 2017
Committee on Budgetary Oversight
Macroeconomic Outlook: IBEC
2:00 pm
Mr. Fergal O'Brien:
The key issue is reframing the whole envelope of what we can provide for infrastructure investment. That is why we would go back to the fiscal rules. The Deputy is absolutely right to identify initiatives such as the TEN-T, the European Investment Bank and whatever funding streams we have. We have arbitrary caps in the system that are limiting our take-up of public-private partnerships. Crucially, we need a larger capital investment envelope. Without that, we are not going to solve the infrastructure deficits for Dublin or for the regions. That is really the issue that we would like the committee to coalesce around.
In terms of the particular challenges to the north west, there are absolutely rail freight opportunities for certain industries. We have many businesses in the north west that report that to us as a priority. An improved road network is the most significant priority. In terms of Knock Airport, one of the things in our connected document is a vision for a C-ring right around the country. Knock is positioned right on that C. If it has north-south connectivity, crucially, and better east-west connectivity, it could really be a much more effective air connection for the whole west and north west of the country in a way that at the moment it probably is not, because the road network leading to it is just too poor. That is probably the policy intervention that would have the most impact. As we continue to see congestion around the M50 and the greater Dublin area, many people will look at travel times getting in and out of Dublin airport and seek alternatives. Building an improved infrastructure to support Knock Airport is something we see as very important from a business and tourism perspective. Building that C-ring right across the country by spreading that catchment up to Northern Ireland and Derry-----