Friday, June 14, 2013

€6.4bn Strategic Investment Fund will create jobs and stimulate the economy

Fine Gael Meath East TD, Regina Doherty, has today (Friday) said that the new Strategic Investment Fund, set to be established by the Government, will create jobs and stimulate the economy. Under new plans published by the Government, the National Pension Reserve Fund (NPRF) will be used by the Government to provide €6.4 billion for commercial investment.

“This is about using the resources we have to create jobs and stimulate economic activity. The Government has decided to redirect the €6.4 billion in the NPRF into a new Strategic Investment Fund, which will directly support economic growth.

“In tandem with the new investment fund, legislation being drafted by the Government will also put NewERA on a statutory footing, which will identify new investment opportunities. This will provide the framework for the Government to invest in key sectors like water, energy and telecommunications.

“This is delivering on a key commitment in the Programme for Government, and will help to support and attract investment into Ireland, and crucially, it will create jobs. As well as stimulating employment now, it will provide the basis for sustainable jobs and growth for the next generation.

“It is very significant that at a time of severe economic constraints, the Government is creating a â ?¬6.4 billion fund for economic investment. Over the last two and a half years, this Government has been working tirelessly to get the economy back on track and to repair our damaged international reputation. Now, we are once again attracting investment into this country and we want to use our own available resources to invest in the Irish economy.

“Confidence has returned to the Irish economy; that’s why we’re once again signing Public Private Partnerships to invest in our roads and other infrastructure. In a similar way, the €6.4 billion Strategic Investment Fund will be leveraged to attract private sector investment in the Irish economy.

“As well as creating direct jobs, this will also help to make Ireland a more attractive place for investment. I am hopeful that Meath will stand to benefit from job creation as the Strategic Investment Fund begins investing in our water, electricity and broadband network.”

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