Atlantic Flight Training Academy ‘contributes €35 million' to regional economy
Atlantic Flight Training Academy 'contributes €35 million' to regional economy
Megan O'Brien
12:28
Minister of State Jerry Buttimer with chief executive of Afta Captain Mark Casey at the launch of the Economic and Social Impact Report. Photo: David Creedon
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The Irish Sun
20-07-2025
- The Irish Sun
Government decide on €13bn Apple tax windfall & AIB shares sale cash spend in new €100bn national development plan
THE coalition is set to pump close to €100 billion into energy and water infrastructure, new schools, housing, and State-run creches over the next 5 years under plans for the Apple tax windfall to be announced. A newly refreshed National Development Plan will be published on Tuesday and will see the Advertisement Coalition sources differed on the level of increased investment that will be announced with some suggesting it could be as high as €100bn while others claimed it would be €90bn. This would see an extra €20bn to €30bn in State spending on building projects over the next 5 years. The money is coming from the A large part of the new injection of cash will be specifically targeted at water and energy infrastructure along with a 'once in a generation' investment in housing projects around the country. Advertisement Read more in Money The plan will also include cash commitments to major transport and health projects. The NDP will also include commitments to build more schools, special education schools and State-run childcare centres. The extra investment is coming from the €13bn Apple tax and the billions of euro the Government has taken in from the sale of AIB shares over recent years. Public Expenditure Minister Advertisement Most read in The Irish Sun Government leaders will hold one final meeting over the weekend to finalise the National Development Plan funds before it is announced on Tuesday. Minister Chambers has encouraged Government leaders to agree bumper investment in key capital projects as a way to help protect against the economic shock of The Any such tariffs would result in retaliatory taxes from the EU on American goods and would devastate the Advertisement Minister Chambers believes that the best way to protect the Irish economy from a trade shock is to create thousands of jobs in State building projects around the country through direct exchequer funding. Improving Ireland's water, energy and housing infrastructure will also help make the country a more attractive option for international businesses to invest in and create jobs here. 1 Public Expenditure Minister Jack Chambers has spent the past few months negotiating with key ministers Credit: Brian Lawless/PA Wire


RTÉ News
19-07-2025
- RTÉ News
Coalition discuss NDP review spending allocations
Coalition leaders met last night to finalise additional spending allocations for the Review of the National Development Plan. The plan, due to be announced on Tuesday, will contain spending of €97bn between 2026 and 2030. That includes an additional €20bn of new funding which has been financed by the sale of AIB shares and back-tax paid by iPhone-maker Apple. The meeting last night was attended by Taoiseach Micheál Martin, Tánaiste Simon Harris, Minister for State Sean Canney, Minister for Public Expenditure Jack Chambers and Minister for Finance Paschal Donohoe. The review will contain spending on housing, water, energy and transport. Next week Minister Chambers will tell Cabinet colleagues that there is uncertainty around global trade and that the threat of tariffs by US President Donald Trump poses "significant risk". He will say that the best way to safeguard the economy and increase competitiveness is to address the country's infrastructure deficits. Uisce Éireann has said it needs an additional €2bn on top of €10.3bn already allocated for capital spending. ESB Networks says it needs an additional €1bn in equity as part of its €13.4bn spending plan. It is understood there will also be funding for Eirgird, the body which operates the electricity grid. Tuesday's publication will set out departmental capital ceilings up to 2030 and overall capital investment until 2035. Government Ministers will outline the specific programmes and investment they will prioritise as part of Budget 2026 in October. The publication of the review follows weeks of bilateral meetings and engagements between different Government departments and Minister Chambers' Department of Public Expenditure, as well as a public consultation. Ministers will also be briefed on work being progressed to reform the country's delivery systems so that project life cycles can be reduced and better value for money can be achieved.

The Journal
19-07-2025
- The Journal
Buyer for MV Matthew found - but inaction by officials in Panama is slowing the sale down
A BUYER HAS come forward to purchase the drugs trafficking bulk carrier MV Matthew but a delay by officials in Panama is preventing the sale of the ship, The Journal has learned. The MV Matthew was seized in a spectacular military and law enforcement operation off the coast of Waterford in September 2023. It was the platform international organised crime groups were using to ship €157m worth of cocaine to Ireland. She has been berthed in Cork Harbour since – as revealed by this news website the bill for her upkeep has cost the State millions of euro . Revenue Customs control the vessel and they have been working to find a way to sell off the ship to a buyer since the Special Criminal Court cleared the way in December, 2024 . The Journal has learned that Revenue Customs has been moving forward with the efforts to dispose of the vessel. A buyer has come forward and is willing to buy the ship but Panama officials must agree to issue licences to allow the ship go back to sea. The Matthew sailed under a so-called flag of convenience – this is where the ship's owner has her registered in a location which has less restrictive regulations. Also it gives some distance from the owners, particularly in the case of the MV Matthew. For instance the MV Matthew while registered under the flag of the Panama in Central America was owned by a company Matthew Maritime which had an address in the Marshall Islands in the Pacific – this was done to avoid questions about the real owners of the vessel. It is believed by law enforcement sources that the Matthew was in fact owned by organised criminals in Dubai and the Middle East linked to Hezbollah and Iranian fundraisers. Advertisement Sources said that the State is anxious to get rid of the hulk berthed generally at Marino Point near the town of Cobh. It is costing the State hundreds of thousands of euros to maintain and to move to free up its berth for deliveries. An agency crew have been put onboard the ship also to maintain it. A generator running on deck has also prompted complaints from residents nearby. The presence of the detained bulk carrier in Cork Harbour has also caused significant problems for the Port of Cork Company (POCC) which has told Revenue that it is causing 'operational problems'. Sources have said that the MV Matthew could be worth between three and four million euros. The price has dropped somewhat since her detention due to the ship losing certain certificates. Correspondence obtained by The Journal detail an added risk exposure due to a potential lack of insurance as the ship has lost its 'class' classification. This status is issued to a ship which ensures that it meets certain marine standards, in turn it then allows marine insurance to foot the bill if anything goes wrong. Sources have said that a problem of no insurance on a ship that size could cause significant issues for POCC. This is understood to be the root of the problems with Panama officials. A statement from Revenue Customs confirmed they have found a buyer for the ship. 'Revenue has consistently stated its intention to dispose of the vessel as soon as the legal position allowed. On 2 December 2024 the Special Criminal Court authorised the release of the MV Matthew, thereby facilitating its disposal. A preferred bidder has been identified,' a spokesperson said. 'Revenue is engaging with the Panamanian authorities to ensure compliance with maritime legislation and regulations that govern the disposal of the MV Matthew and has received confirmation from them that it is receiving attention, and Revenue hopes to have these matters finalised shortly. 'As you will appreciate, Revenue is required to ensure that all regulations and legal obligations are fully complied with throughout the disposal and removal process,' Revenue Customs added. Readers like you are keeping these stories free for everyone... A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation. Learn More Support The Journal