On this side of the Border we get a jobs plan which promises 100,000 new jobs over 4-5 years – and I regret being cynical but the absence of detail in yesterday’s publication was disheartening and quite a few initiatives have been completed which made the purpose of the document curious – whereas in Northern Ireland this morning, Minister for Finance and Personnel, Sammy Wilson announced the creation of 2,500 new jobs to be generated from GBP 580m (€690m) being spent on improving infrastructure.
The A5 road, the funding for which we welched on in the December 2011 budget breaking a previous commitment, is to receive GBP 330m of funding. Two sections of the A5 will benefit – Derry to Strabane (countyTyrone) and Omagh to Ballygawley (both in Tyrone). A portion of the A2 road which circuitously connects Derry and Newry hugging the coast, is to receive GBP 57m for improvements to a 16km stretch between Carrickfergus andBelfast, and GBP 105m will be spent on theBelfastto Larne dual carriageway, according to the BBC. Below is rough approximation, prepared here, of the road works, marked in green.
On this side of the Border NAMA has already loaned €10m to Fingal council to help fund a road in west Dublin, aimed at enhancing the value of some property in the NAMA portfolio. It seems that NAMA will be a collateral beneficiary of this morning’s announcements. PBN, one of Northern Ireland’s biggest property companies and a NAMA client has a business park – the former Courtaulds facility – and hotel in Carrickfergus which can only benefit from better connectivity with Belfast. No doubt NAMA will examine other property in its portfolio for any value enhancement following this morning’s announcement which also promised funding for three hospitals.
Meanwhile on the side of the Border, the NTMA is making slow work of attracting €1bn of third party funding to accompany its own planned €250m investment in infrastructure. Some politicians are chomping at the bit for the NTMA to commit more of its own funding to infrastructure. And we seem to be making very slow progress in assembling state assets for sale, the proceeds of which, according to Ministers Noonan and Howlin, can be used for stimulus. 100,000 new jobs is a fine blue sky/cloud aspiration but 2,500 supported by real investment is more credible.Northern Irelandhas a 6.8% unemployment rate compared to 14.2% on this side of the Border.
NAMA Wine Lake 
Even the notion of 100,000 jobs is hard to take seriously.
We wall want something positive to hold on to, but meaningless spin is hardly much of a port in the storm.
Has anyone even asked Kenny, Bruton et al. where 500 jobs this week, next week and every week for the next four years are going to come from?