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Times
3 days ago
- Business
- Times
Roads and housing to get €100bn capital funding boost
Ministers are set to agree a €100 billion plan for spending across roads, housing and energy projects with significant extra funding found after 'tense' negotiations. It was originally envisaged that the review of the national development plan would result in an additional €20 billion being divvied up between departments. Sources this weekend said, however, that 'intensive' negotiations on the scale of investment in housing on the one hand and large transport and roads projects on the other had resulted in the cash pile rising to €30 billion. The plan will be unveiled by Jack Chambers, the minister for public expenditure, after a cabinet meeting this week where ministers will approve what is being described as 'once in a generation' capital funding into Uisce Eireann, the ESB and EirGrid. Negotiations with the Department of Housing and Department of Transport continued throughout the day yesterday, with a source saying both ministers presented a long list of demands. There will also be new investment in childcare and disability services and school buildings, while the Department of Enterprise has secured extra capital funding to boost competitiveness at a time of increased global uncertainty. Chambers is also expected to tell the cabinet this week that there is 'profound uncertainty' around global trade and that the threat of American tariffs from President Trump poses significant risks to the Irish economy. The summer economic statement will also be unveiled in the coming days, which will set out some of the parameters of the 2026 budget. Sources involved in finalising the plan said that when viewed against the budgets of previous years, it would appear far less generous. Ministers were told at a cabinet meeting last week that a trade deal with the US was nearly over the line in the hours before Trump announced tariffs of 30 per cent from August 1. According to a confidential cabinet memo, seen by The Sunday Times, the agreement would have involved a 10 per cent baseline tariff but would have resulted in the maintenance of a 'balance' in the trading relationship between the EU and the US. Ministers were told that Ursula von der Leyen, president of the European Commission, informed the taoiseach of Trump's 30 per cent tariff plan a few hours before the US president made the announcement on social media. According to the memo, the announcement made by Trump 'came after a week where it seemed momentum had been building towards an agreement in principle' on tariffs. 'EU ambassadors were briefed by the European Commission that a proposal for an agreement in principle was on the table with the US but was waiting on agreement at the highest levels. The contours of that agreement, while accepting a baseline US 10 per cent tariff, would have maintained balance in the trading relationship,' the memo states. The cabinet was told, however, that there was at that point, and still, much uncertainty around how certain sectors would be treated, such as pharmaceuticals. The EU wanted a 'standstill' clause, which would have prevented further tariffs on pharma and other sectors. 'The EU has been seeking standstill commitments but there is no clarity if this will be achieved and the latest indications from the US are negative,' the memo says. Ministers were told that the strategy from here would be to continue with negotiations and maintain contact with the US. However, the EU is proposing a €95 billion counter tariffs package, which Irish officials are poring over to identify any sensitivities that could be harmful to the economy. 'We have made clear … our concerns in relation to the significant impact which higher tariffs would have on the Irish economy including potential job losses … while also emphasising that pharmaceuticals should be included in the agreement in principle,' the memo states. 'EU rebalancing measures would also have an effect, especially in terms of US retaliatory measures targeting EU and Irish producers.'
Irish Independent
10-07-2025
- Business
- Irish Independent
Green light for €1.3bn wastewater treatment plant in north Dublin
The major €1.3bn wastewater treatment scheme has been in the planning process for at least six years, and was designed to ease pressure on the Ringsend wastewater treatment plant in Dublin city currently operating at capacity, and provide for the growing needs of homes and industry. Currently half of Ireland's wastewater is treated in the greater Dublin area, with 40pc of it being treated in Ringsend. The scheme, which was applied for by Uisce Eireann, was deemed necessary because the volume of wastewater generated in the greater Dublin area is projected to increase by 50pc up to 2050 due to population and economic growth. The new regional wastewater treatment facility will be built on a 30-hectare site at Clonshaugh in north Dublin and will service north Dublin as well as parts of Meath and Kildare - a population of half a million people. There will also be an underground orbital sewer from Blanchardstown to Clonshaugh bringing wastewater in. An outfall pipe at Baldoyle will return treated wastewater to a discharge point 6km out to sea. The project is expected to become operational in 2032. Uisce Éireann today welcomed the planning approval of the Greater Dublin Drainage Project. Commenting on the decision, Uisce Éireann's Infrastructure Delivery Director Maria O'Dwyer said: 'Uisce Éireann is delighted to reach this significant milestone. The delivery of the Greater Dublin Drainage project is a key part of Uisce Éireann's investment in new wastewater infrastructure in Greater Dublin and will facilitate housing and growth, protect public health into the future.' 'The project was first submitted for planning in 2018 and since that time, population and economic growth means the volume of wastewater we are producing has continued to grow, so the delivery of this critical infrastructure project is more important than ever. ADVERTISEMENT 'Current projections are that the amount of wastewater generated in the Greater Dublin Area, including parts of Wicklow, Kildare and Meath, will increase by over 50pc in the period to 2050. The delivery of this essential project on the northside of Dublin, in addition to the upgrade to the Ringsend Treatment Plant on the southside of the City, will provide the capacity and resilience to support economic and social development for many years to come,' she added. Uisce Eireann said the project will increase the development potential of Dublin and parts of the surrounding counties by providing new infrastructure that will alleviate pressure within the existing wastewater network. It is now reviewing the grant of permissions and its attached conditions. The next phase of work involves completing the remaining pre-construction statutory processes and progressing the procurement of contractors to construct the project. Given the scale and complexity of the project it anticipates construction works will extend over a four-year period. There is now an eight-week window during which objectors can take a judicial review.
Dublin Live
10-07-2025
- Business
- Dublin Live
Controversial €1.3b Dublin sewage plant given green light after 7 year planning battle
Our community members are treated to special offers, promotions and adverts from us and our partners. You can check out at any time. More info A controversial €1.3b sewage plant for Dublin has been given the green light for Dublin following a seven year planning battle. The Greater Dublin Drainage Project, which will be built in Clonshaugh, will serve 500,000 people in north Dublin, Meath and Kildare. The project is one of Uisce Eireann's largest infrastructure projects and the water utility say it is key to economic growth and is critical to providing support for the demand for new housing. The project will see the building of an underground pipeline which will start in Blanchardstown. This pipeline will collect and transfer sewage through a new pumping station in Abbotstown before the treated water is sent in to the Irish Sea 1km northeast of Ireland's Eye via a 6km marine outfall pipeline from Baldoyle. An Coimisiún Pleanála granted permission for the project this week. The body's predecessor, An Bord Pleanala, had previously granted permission for the plant in 2019 following a planning submission in 2018. However this decision was quashed in 2020 following a judicial review. Local campaigners sought the judicial review over concerns that what they dubbed a "monster" plant would have a "catastrophic" effect on the Dublin Bay Biosphere and would jeopardise Dublin Bay's status as the only UNESCO Biosphere in a capital city anywhere in the world. Following confirmation that the plant has been granted permission Uisce Éireann said it will soon progress with the contractor procurement process for the construction of the project. The projected construction time for the entire project is estimated to take three years. Join our Dublin Live breaking news service on WhatsApp. Click this link to receive your daily dose of Dublin Live content. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don't like our community, you can check out any time you like. If you're curious, you can read our Privacy Notice. For all the latest news from Dublin and surrounding areas visit our homepage.
Irish Independent
01-07-2025
- Business
- Irish Independent
Uisce Eireann staff got over €13m in bonuses last year
The agency's annual report for 2024 shows that the €13.08m in performance-related pay represented a €2.5m increase on the pay-outs in The report discloses that Uisce Éireann has made performance-related payments to 2,244 employees this year in respect of 2024, and this followed 1,631 staff receiving bonus payments for 2023. The payments were approved by the agency's board last January, and the average payment was €5,830, which was down €650 on the average bonus payment of €6,480 for the prior year. The annual report says Uisce Éireann's pay model 'is market-based and performance-related, comprising two elements, namely base pay and a performance-related award". It says performance is assessed against individual objectives and corporate objectives through a 'balanced scorecard process'. No bonus payment was made to Uisce Éireann's ceo Niall Gleeson, and this is as a result of a Government direction in 2011. The report also reveals that the number of employees earning over €100,000 last year totalled 421, which was an increase of 77 on the number in in that earning bracket in 2023. The detailed figures show that four staff members earned between €250,000 and €275,000; five between €225,000 and €250,000; and nine between €200,000 and €225,000. A further 22 earned between €175,000 and €200,000 while 35 earned between €150,000 and €175,000. Overall staff costs increased by €44m to €158m and the report notes that payroll costs were higher in 2024 with increased average headcount year-on-year 'as transformation under the framework for future delivery of water services progressed in 2024'. The average number employed increased by 630 from 1,478 to 2,108. ADVERTISEMENT Mr Gleeson's remuneration package remained at the same level of €275,000, made up of €225,000 in basic salary, €27,000 in pension contributions, and €23,000 in 'other short term' employee costs. Last year, pre-tax profits at Uisce Eireann decreased by 15pc to €321m as operating costs rose by 5pc from €983.62m to €1.03bn. Revenues increased by 3pc from €1.56bn to €1.606bn. The utility's revenues were made up of €1.13bn in Government subvention payments for domestic water billing, non-domestic revenues of €271.79m, and new connection revenues, which declined by 20pc to €195.24m. The utility delivered Earnings Before Interest, Tax, Depreciation and Amortisation (Ebtida) of €550m compared to €560m in 2023. Chris McCarthy, the chief financial officer, said that Uisce Éireann 'delivered a strong financial performance' last year. The profit generated, together with necessary Government support in capital contributions of €572m, 'was invested to fund critical infrastructure projects and enabled the successful delivery of a €1.372bn capital investment programme in 2024'. He added: 'This allowed us to improve the quality of our water supply, improve our compliance with standards, and increase capacity for housing and development to support economic growth.' The utility's spending on hospitality for staff and clients last year increased by 63.5pc, from €129,000 to €211,000. This included €194,000 on staff hospitality and €17,000 on client hospitality. Uisce Eireann paid out €4.42m in legal costs and made settlements of €2.01m, relating to 41 legal cases. Cash funds at the end of 2024 totalled €345m.
Irish Independent
25-06-2025
- Business
- Irish Independent
Councillors' job is to build houses and not object to them, says Simon Harris
Simon Harris also said every part of the state needs to treat the housing crisis as an emergency, including the chief executives of Uisce Eireann and ESB. Mr Harris made the comments as he and the Minister for Housing James Browne visited the site of new cost rental apartments in Tallaght, Dublin. The Department of Housing said it is the first local authority funded, standalone, cost rental development in Ireland. Both ministers said that 'key' to eliminating homelessness is supply of housing. 'Supply of a whole variety of homes, including social homes,' Mr Harris added. 'I know one of the issues that the minister (for housing) is working on, and that we fully support across government, is making it even easier for local authorities to go through the approval process for new social homes more quickly, and looking at how we can improve a standardisation in terms of how we develop social homes so they can be delivered more quickly. 'We're in the early stages of this new government. 'That's why we're making big and bold decisions, including decisions that will be unpopular and difficult at times in relation to housing, including decisions that, quite rightly, people will be able to parse and analyse and critique, if they look at each decision individually. 'But actually, as the Minister (Browne) has rightly said, it is about putting together pieces of the jigsaw that will get us to those 300,000 incomes. 'I don't in any way anyway underestimate the scale of the housing crisis. It is a housing emergency. 'It's very real and acute emergency for people, particularly families and challenge in relation to housing today, and that's why we need to break down every silo that exists in the state. 'Housing can't just be an emergency for the Minister for Housing, the Department of Housing, or people in need of housing, it has to be an emergency every part of the state. 'It has to be an emergency for the CEO Uisce Eireann, the CEO of the ESB, every chief executive of every local authority, every county councillor who needs to realise their job is not to object to houses, but build houses. 'This is where we've got to get to break down the silos.' Last week, emergency legislation that saw rent pressure zones extended nationwide was signed into law. The system, which caps rent increases at the rate of inflation or 2pc, whichever is lower, have also been extended until the end of February after originally being due to expire at the end of the year. Mr Browne said more time is needed to assess the impact of the changes in law. He said that landlords have been leaving the system in 'substantial numbers' for years because of the previous laws around Rent Pressure Zones. 'We wanted to bring in stronger tenants' rights, that's really important,' Mr Browne added. 'And also be able to activate supply because of when it comes to the prices of homes, the only way we're going to get the prices to stabilise is through the increase of supply. 'That increase of supply will bring down rents, will increase the supply of homes to stabilise those and help eliminate homelessness as well. 'It is all about supply, supply, supply, supply, and that's what we're all aiming at towards now while protecting our renters and ensuring people can live in their local communities.' He said that around 40pc of people going into homelessness is a result of notice to quit in tenancies. He claimed the new legislation will bring in security of tenure. 'We know internationally, where you have higher homelessness, it is where you also have higher rents,' he added. 'By getting that supply up, you get rents down, and we'll also help to get homelessness down, but also the measures we've made around Rent Pressure Zones, around security of tenure, will help prevent people going into homelessness as well. 'With this legislation in that we have security of tenure. 'We also have a large population moving from Ipas centres, who have had their situation regulated, but don't have somewhere to live, coming into our homeless situation as well. 'I'm very conscious that well over 70pc of everybody who's homeless is also in Dublin. 'So there was a lot of moving parts in terms of the homeless situation. 'We're trying to address them all. 'But for those coming into homelessness to prevent them, we have record prevention as well, with people going into homelessness and getting people exited out as quickly as possible.'
