€500m: stimulus package bonanza as county to get quarter of overall national total
STIMULUS PACKAGE BONANZA AS COUNTY TO GET QUARTER OF OVERALL NATIONAL TOTAL FOR...
COUNTY WEXFORD has landed a massive and unprecedented financial bonanza, as almost one quarter of the €2.2 billion economic stimulus package announced is to be spent in the Model County.
NEW ROSS BYPASS
BRAND NEW CLINIC
Bypasses for Enniscorthy and New Ross, a new county clinic, and a new courthouse for Wexford town will account for the some €500 million that was secured for the county by Government partners Brendan Howlin and Paul Kehoe.
COUNTY WEXFORD'S €500 million bonanza is part of yesterday's coalition bid to lift the national mood with an overall €2.25 billion stimulus package for the embattled Irish economy.
The money to be divided between educational, courthouse, health centre and road projects will come initially from the National Pension Reserve Fund along with the European Investment Bank and the Council of Europe Bank as well Irish banks and an assortment of private investors. The final tranche will come from the sale of State assets such as forestry and the licence for the National Lottery.
As the package was made public, Cabinet members from the constituency stressed that Wexford had done well because projects in the county were ready to roll. However, they scored a blank on the educational front where €280 is to be poured into twelve new schools, while the massive Dublin Institute of Technology will be consolidated from various sites around the city to form a central campus on the grounds of St. Brendan's psychiatric hospital at Grangegorman.