Build all-Ireland road, rail, and water projects, say Ibec and CBI

Business leaders across Ireland say the all-Ireland economy has expanded despite the barriers caused by Brexit, but that infrastructure and all-island business and trade agencies need to be bolstered to serve a population that will grow to eight million people in the next 30 years, Ibec and the the CBI have said.

Their assessment comes as the two business groups host an annual gathering that highlights ways to increase the all-Ireland economy.

In the latest report, they also call for significant increases in funds for InterTradeIreland, the Newry-based agency set up to encourage north-south trade, as well as for Tourism Ireland, which promotes Irish tourism across the island in key foreign markets such as North America and continental Europe.

On infrastructure, Ibec and the CBI want a north-south committee to set priorities to develop the all-Ireland infrastructure for rail, including the Belfast-Dublin train services, the electricity connector for the all-Ireland electricity market, and building charging points for electric vehicles as part of completing “an all-island core road network”, and to set up an all-Ireland fund to build out water networks.

“Many aspects of the all-island economy have performed strongly despite the challenges of Brexit but there are a number of areas which would benefit from further co-operation,” Ibec and the CBI said.

“In particular, it is clear to business leaders that there is an urgent need to progress north-south policy co-ordination to protect the Single Electricity Market, secure the island’s energy supply and meet legally mandated Net Zero climate action goals.

There is also a need to address obstacles to cross-border working to take full advantage of the all-Island labour market,” the business groups said.

The groups have in recent years weighed topics such as ‘Business on a Connected Island’, ‘Sustaining the Benefits of All-island Business’, and have responded to the all-island rail review.

“There is a lot of political change happening both on the islands of Ireland and Britain this year, and it is important we push forward with an all-island economic agenda that can deliver real opportunities on both sides of the Irish border,” said Ibec chief executive Danny McCoy.