Engineers Ireland has welcomed the government's summer economic statement, where it revised its fiscal parameters for Budget 2023. An overall budgetary package of €6.7bn will now be made available for new spending and taxation measures – an increase of €1.7bn over what was previously planned.

A total of €3bn will be used to cover extra spending relating to, among other areas, demographic changes in the country and the implementation of the National Development Plan.

The National Development Plan published in October 2021, provides for total public investment of €165bn over the period 2021-2030.

'Core elements'

Damien Owens, registrar at Engineers Ireland, said: “Infrastructure and technology are core elements of a modern society and economy. They strengthen economic growth through job creation and enhancing efficiency, productivity and competitiveness.

"Correctly targeted investment in infrastructure and technology also underpin social cohesion by providing vital social, environmental and economic facilities for our citizens and natural environment, and will enhance our country’s wellbeing, inclusion and competitiveness.

“Engineers Ireland is committed to channelling the expertise of our members in finding practical and cost-effective solutions to many of today’s societal challenges in the national interest.”

Engineers Ireland recognised the government’s work to enhance Ireland’s economic resilience, including by addressing the pre-pandemic challenges such as boosting housing supply, decarbonising the economy and facilitating the transition to a digitalised economy.