A series of 270,000 new jobs may be created in Ireland as the result of a €40 billion investment program over the next seven years.

The government estimates that the revised capital works scheme will drive forward growth and generate thousands of employment opportunities in fields including transport, education and enterprise.

Announcing the stimulus funding, the taoiseach, Brian Cowen, stated: "We are focusing on investments which will help create sustainable jobs - by shifting resources to areas which will help Irish companies grow and attract more foreign investment."

He added that the level of finance being made available is one of the highest amounts in the European Union in proportion to the size of the nation and will assist in boosting the economy as it recovers from the global downturn, while remaining affordable.

Launched in Dublin, the Government's Infrastructure Investment Priorities for 2010 - 2016 are expected to create new education jobs in Ireland through the allocation of €4.21 billion.

Recent figures for the first quarter of 2010 indicated that the country emerged from recession, expanding by 2.7 per cent over the period.

Posted by Alex Donnell