Fergus O'Dowd (Louth, Fine Gael) | Oireachtas source

I know the region in which I live. One of the key features of NewERA is that, in consultation with various Government Ministers, it can develop proposals for investment in sectors to support economic activity and employment, specifically energy, water, telecommunications and forestry. The legislation could create a very positive, constructive fund which is available to promote balanced regional development, create jobs and meet the needs of our economy. This is a key point in our development and I urge Deputies to support and vote for it. We are at a turning point at which the economy is improving, jobs are being created and there is a commitment, acknowledged by the Minister for Finance, in the point Deputy Deasy wanted to be accepted and understood. Once the legislation has been passed we will be able to engage in very significant development. I ask Deputies to reconsider their total opposition to matching funds. Matching funds means there will be double the money, and the projects can be doubled. If one has a plan that fits the template for the Ireland strategic investment fund, one can build double the number of houses and invest twice the amount that one could otherwise. It is a no-brainer.

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