A social and affordable housing programme costing on average nearly €235,000 per home over the next seven years forms part of the Government's much-leaked National Development Plan NDP formally announced today.
A total of €184 billion has been allocated under the Transforming Ireland - A Better Quality of Life for All, which will see €18 billion spent on 77,000 homes and
Over €50 billion will be spent on infrastructure
€34 billion allocated to transport as part of a planned €54.66 billion infrastructure investment.
Some €50 billion has been earmarked for social-inclusion measures aimed particularly at the elderly, immigrants, Travellers and the area of skills development.
Over €8.5 billion is to be spend on investment in energy as the Government attempts to reach one of its most immediate targets of 15 per cent of electricity generation coming from renewable resources by 2010.
A separate allocation of over €8 billion to modernise the agriculture sector - including the food industry - will feed into this target.
The Taoiseach has long been an advocate of the EU's Lisbon Agenda, which aims to create a "knowledge economy" within member states, and today investment of over €20 billion was unveiled under the heading "enterprise, science, innovation".
Speaking this afternoon, Mr Ahern said the NDP, which runs until the end of 2013, would "set important foundations for the next phase of our country's development".
"Today, we are launching a plan involving some €184 billion - a scale of investment for the next seven years that is without precedent.
"But . . . this investment is also essential to help us meet emerging challenges. We will continue to build on the substantial progress we are making in delivering a quality of physical infrastructure that is appropriate to our evolving 21st-century needs," Mr Ahern said.
He said public transport in Dublin would expand as would the road and rail networks along the Western seaboard.
"This new National Development Plan will also see a new deployment of resources in supporting the productive capacity of our enterprise sector, equipping it to compete effectively in an increasingly knowledge-intensive and interconnected global economy.
"At a point in our national development where future prosperity has never been more dependent on unlocking the talents of each and every citizen, we are reinforcing the emphasis on skills and training to ensure adaptability to the accelerated change we face," the Taoiseach said.
Much of the spending targets had already been announced, however, and concern was recently expressed the Economic and Social Research Institute (ESRI) that such large-scale spending could drive inflation and overheat the economy.
Mr Ahern appeared to acknowledged ESRI's concern in his speech and said the management of the plan would be subject to enhanced "value-for-money" frameworks now in place.
The heavily leaked plan has already drawn criticism for not being integrated, but Mr Ahern insisted the new NDP recognised the interdependence of economic and social aims as well as interdepartmental co-operation.
He emphasised that almost half of the overall allocation was to be social spending, including investment in areas of health such as hospitals; primary care and community healthcare.
There would also be large-scale investment in services for people with disabilities, and sports and cultural facilities, he said. Childcare and education - including education for children with disabilities - is to receive funding from various allocations, including some €5 billion for capital spending on schools and €13 billion for third-level facilities.
Mr Ahern also heralded the inclusion of spending on North/South projects - which will include social programmes as well commercial activities.