Fine Gael plans €6bn-€7bn investment in 'next-gen' infrastructure

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Local high-tech industry

This includes accelerating capital allowances on business software investments to support a local high-tech industry, an area no Irish Government has attempted to support before.

Under Fine Gael’s NewERA plan, streamlined and restructured semi-State companies will invest an additional €6bn-€7bn, over and above current plans, over the next four years in “next-generation” infrastructures in energy, broadband, forestry and water.

The investments

The investments, it says, will be financed by both public and private pension funds and the proceeds of the sale of state assets. These will be profitable, commercial investments, repaid by charges on users, businesses and consumers.

The goal is to accelerate and, if necessary, modify the network development plans of the ESB and Eirgrid. The new smart grid will support the roll out of greater renewable energy generation and involve the installation of smart meters in every home. All options for electricity storage will be vigorously explored.

NewERA will work closely with the private sector to provide next-generation access to every home and business in the state. Fine Gael said it believes it is absolutely vital that any funding from NewERA results in additional, substantial investment from the private telecom operators.

The indigenous technology sector

In terms of stimulating the indigenous technology sector, Fine Gael said it would help Irish businesses to finance additional investment in technology through accelerated capital allowances on software purchases.

Fine Gael also plans a €10m one-off marketing budget for State agencies to restore "Ireland's battered business reputation" across the globe.

Another area that might see investment in technology – potentially cloud computing technology – is a plan to target the €3bn worth of annual social welfare fraud through the establishment of a single payments and entitlements system.