Leo Varadkar (Dublin West, Fine Gael) | Oireachtas source

The review of the national development plan is an important opportunity to assess our programme of investment in public infrastructure and ensure we are developing our physical infrastructure, human capital and cultural capital to serve the changing needs of our society and economy. The Government's priority is that we use our capital investment optimally to drive a jobs-led recovery and develop the longer-term capacity of our economy and the reorientation of our economy. The original national development plan was written at a time of full employment. We are now in a very different place and enterprise and employment must feature more strongly in the revised plan.

The revised national development plan will reflect the priorities of the forthcoming national economic plan, which will set out a pathway to a renewed economy and society. It is now time to plan for renewal and for a lasting and inclusive recovery in 2021 and beyond. The updated national development plan will be impactful on a number of fronts, such as providing a countercyclical fiscal policy, renewing the Government's investment in regional development, closing significant infrastructure gaps, supporting agility and resilience in the enterprise and labour market, and funding climate-related investments. At €10.1 billion next year, our capital budget will be the largest ever. In practical terms, this means investment in our transport networks, and public transport in particular, broadband, e-hubs, health and education infrastructure, and our water network. It means investment in the kind of infrastructure that will enable the transition to a digital and low-carbon economy.

We must also continue to make considerable investments in our human capital, that is, our people, in order to achieve the widest economic and social return on investments in physical infrastructure. Such investment needs to be flanked by investments that enhance competitiveness in job creation and productivity and the innovative capacity of our businesses. These will include capital programmes such as those managed by the enterprise development agencies.

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