Fiscal rules ‘suffocating infrastructural investment’, says Construction Industry Federation
07 April 2017
Tom Parlon, Director General of the Construction Industry Federation, has called on the Taoiseach Enda Kenny to seek permission from the EU to invest in infrastructure in breach of the EU’s fiscal rules. He spoke at the Infrastructure Summit at the Aviva Stadium on 5 April.
“We do have a problem, and that is, of course, the EU’s fiscal constraints,” he said.
“It’s just morally wrong that the EU are, on one side, dangling funding in terms of quantative easing on the one hand and on the other hand preventing us from spending it and it makes no sense at all when money is available at the rate that it is – very cheaply – 1% over a long period, that we can’t make use of it for what is essentially, absolutely, very urgent investment.”
“I think we have to pull out all the stops to get a relaxation of the fiscal rules that are there because they are certainly suffocating our infrastructural investment. I think we were reasonably good EU citizens when we had our economic and our banking collapse. We all took the hit and maybe we are just being a bit too quiet at the moment in terms of accepting the fiscal rules that have been laid down.”
Parlon added, “For a Taoiseach who is thinking of stepping down from his position and has some very good achievements – I think if he can get some relaxation in the fiscal rules before he goes – I think he will be doing a very, very good job.”http://www.engineersjournal.ie/2017/04/07/tom-parlon-calls-taoiseach-seek-relaxation-eu-fiscal-rules/http://www.engineersjournal.ie/wp-content/uploads/2017/03/engineers-journal-news1.pnghttp://www.engineersjournal.ie/wp-content/uploads/2017/03/engineers-journal-news1-300x225.pngNewsConstruction Industry Federation,European Union,infrastructure