Kieran O'Donnell (Limerick East, Fine Gael)

I thank the Ceann Comhairle for allowing me to raise this matter on the Adjournment this evening. It is of critical importance to Limerick and in particular to the regeneration areas of Limerick, namely, Moyross, Southill, St. Mary's Park and Ballinacurra Weston, and to the people who reside therein. The original plan for Limerick's regeneration was drawn up by John Fitzgerald three years ago in April 2007. Since then, from a physical perspective, nothing has been built. All that has happened is that more than 400 houses have been demolished in the regeneration areas. To date, people have lost faith in the process and it is critical for faith to be restored to bring back credibility.

A revised first phase implementation submission has been made to the Government in the past two weeks. The Minister of State should indicate whether it has been presented to the Cabinet and when it will be approved. It envisages a revised Government input of €924 million, rather than €1.6 billion, due to savings over a 15-year period, which equates to €60 million per year. The Government contributed €25 million towards annual running costs last year and is committed to so doing again this year. However, additional funding is needed to ensure the capital projects can get under way in the four regeneration areas.

Furthermore, this has enormous employment creation potential. The first phase implementation plan that has been submitted to the Cabinet demonstrates that 4,500 jobs can be created out of the regeneration process. In other words, more than 2,800 jobs can be created directly and 1,680 jobs indirectly. Such job creation is needed as a matter of urgency in Limerick, where nearly 22,000 people are on the live register and which has an unemployment rate of 14.2%, which is well above the national average. Moreover, the regeneration areas have an unemployment rate that is five times the national average. People are entitled to have the Government honour its commitment to the regeneration project.

In addition to funding the first phase, which comes to €337 million, the Government's approval of the overall master plan that was submitted to the Cabinet 18 months ago in October 2008 is critical. People in the regeneration areas are entitled to more and a point has been reached whereby the Government must, in the words of the new Financial Regulator, Mr. Matthew Elderfield, show us the money for regeneration. Furthermore, I tabled an amendment to the most recent Finance Bill to the effect that tax designation incentives specific to the Limerick regeneration project would be considered. I understand this is being considered by the Department of Finance and I urge that it be allowed to proceed because Limerick requires the physical side of the regeneration projects to get under way in the four regeneration areas. Many elderly people live in these areas and I note that three pillars underscore regeneration. The physical pillar, which I have dealt with, pertains to houses and infrastructure being built, for which we need funding urgently. The economic pillar obviously would be the spin-off in terms of employment as it would provide a job stimulus to Limerick. Many people work in the construction sector. Ironically, the Limerick regeneration project will see houses being built that need to be built as distinct from houses built during the latter days of the Celtic tiger which were surplus to requirements and are ending up in NAMA at a cost to the taxpayer that will be a burden for generations to come.

Furthermore, there is the social aspect. Will the Minister of State consider a multi-agency approach to regeneration areas whereby the regeneration agencies, local authorities, Garda Síochána, HSE and the Departments of Education and Science and Social and Family Affairs work on an integrated approach to all of the issues that present?

I am looking for good news from the Minister of State. We need money as a matter of urgency. The first phase needs to be approved and the money extended. The overall Limerick regeneration master plan, which has been sitting on the Cabinet's table for more than 18 months, must be approved if certainty is to be given to those living in the regeneration areas to the effect that the project will go ahead in its entirety and the Government will honour its promise.

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