Those of you signed up to our mailing list would have received our team’s special report this week outlining our analysis of the Accelerating Infrastructure Taskforce Report and Action Plan. To ensure you don’t miss these in future please email pateam@drury.ie to get on our mailing list.
Speaking of plugging, “infrastructure” was the buzzword of the week, well, after Zelensky that is. The report, released on Wednesday, lays out 30 actions intended to accelerate the provision of critical infrastructure by addressing key barriers to delivery. Critical infrastructure for the purpose of the report refers to the electricity network, water and transport infrastructure, the infrastructure deemed necessary to support the development of all other social and economic infrastructure right across society.
Former minister for the environment and transport and Green Party Leader Éamonn Ryan set the tone ahead of Wednesday’s publication. In an op-ed in The Irish Times Ryan stressed the need for reform within the Department of Public Expenditure itself and offered a direction to Minister Chambers, Chairperson of the Accelerating Infrastructure Taskforce: “Anyone who has been close to our system will know about that department’s outlook and culture. It focuses on process more than outcomes. It is innately suspicious of anything sustainable, green or digital and it seems to consider procrastination a virtue, there to protect us from some wild public spending that would otherwise take hold.” Ryan, in many ways, has hit the nail on the head. Culture within the public service needs to change and those in decision-making roles, need to be given the space and comfort to make bold decisions.
We’ll be keeping a close eye on the implementation of the Action Plan, and Progress Ireland, a recently launched think tank, has produced a handy tracker. If our latest efforts to turbocharge major infrastructure projects is to work, resembling the success of the Action Plan for Jobs, launched by then-Minister Richard Bruton should serve as an obvious blueprint.
Political Update
Zelensky visits Ireland as US and Russia talks continue
On Tuesday Ukrainian President Volodymyr Zelensky, and First Lady Olena Zelenska made their first official visit to Ireland, with the day long visit to Dublin including a meeting with President Catherine Connolly, an address to a special sitting of the Houses of the Oireachtas, and a bilateral meeting with Taoiseach Micheál Martin. The couple also attended an event focused on trade and economic cooperation hosted by the Department of Foreign Affairs and visited members of the Ukrainian community in Ireland.
During his address to members of the Oireachtas, Zelensky thanked Ireland for “providing home and protection” for the people of Ukraine, for its “steadfast support”, and “for not losing faith” in a peaceful, independent future for Ukraine, calling for a “peace without humiliation”, and one founded on shared values of justice and accountability.
The Zelensky visit came as peace negotiation talks took place in Moscow between Russia and the US. US special envoy Steve Witkoff, and Jared Kushner, son in law of US President Trump, met with Russian President Vladimir Putin and Kremlin officials during a five-hour meeting to discuss the revamped US backed peace plan. The Kremlin rejected the proposed plan, stating that “a lot of work lies ahead” before a satisfactory compromise can be reached.
Ukrainian Foreign Minister Andrii Sybhia accusing Putin of "wasting the world's time", while Ukraine was committed to achieving “a just and lasting peace”. Further talks between Ukrainian officials and Witkoff are scheduled to continue negotiations over the peace plan.
The Government has linked the need for these changes to capacity pressures in housing and public services, and to Ireland’s population growth rate. Ministers have framed the reforms as part of a wider effort to ensure the migration system operates within available public resources and to align more closely with broader European practices.
Economic Update
Exchequer Collects €10bn in Corporation Tax for November
The Exchequer reported a record €10bn in corporation tax returns for November 2025, a figure which just over a decade ago amounted to the sum collected across an entire year. The strong November returns have been associated with a surge in multinational exports linked to US tariffs - and mark a €2.7bn increase on exchequer returns for November 2024.
The Exchequer has collected a total of €29.4 billion in corporation tax returns year to date), up €3.8 billion (14.9%) on the same period last year when once-off payments from the Apple tax case are excluded. The Government now expects the total value of corporation tax receipts for 2025 to reach €32bn, providing the Exchequer with another significant end-of-year surplus (over €10bn). This will give the Government some cover as it also oversees substantial levels of additional expenditure.
On a cumulative basis, overall tax revenues to the end of November amounted to €97 billion, up €7.3 billion (8.2%) compared to the same period last year. Income tax has raised €33.7 billion, up €1.5 billion (4.6%) on the corresponding period last year, while VAT has generated €22.5 billion, up €1.1 billion (5%), year-to-date.
This trend of strong Exchequer returns is predicted to continue to rise next year, as a new 15% minimum tax rate will start to apply for large multinationals based in Ireland in 2026. This increased tax rate for large multinationals was agreed upon following consultation with the OECD.
Sustainability Update
Plans unveiled to transform Rosslare Europort into offshore energy hub
New plans have been unveiled by Iarnród Éireann that would see major expansion at Rosslare Europort in Co Wexford, to create an offshore renewable energy hub, capable of supporting the construction of wind farms in Irish waters.
The proposed development, which will be submitted for planning next week, would include deep-water access for specialist vessels, reinforced berths for heavy-lift operations, nearly 20 hectares of new port land for storage and assembly, extensive dredging and land reclamation, and a new 64-berth small boat harbour, designed to support offshore construction.
Current plans would see the expansion works begin in 2027 and completed in 2029 – just in time to work on the first of five offshore wind projects currently in the planning pipeline. Failure to meet these timelines risks significant delays to Ireland’s offshore wind ambitions, as Irish projects would need to be delivered from ports in the UK and France, which are also servicing several of their own offshore projects.
The energy hub, which Iarnród Éireann chief executive Mary Considine described as a “once in a generation investment in Ireland’s clean energy future”, is expected to generate roughly 2,000 jobs across port construction, turbine assembly, and long-term wind farm operations. Smaller expansions to support offshore delivery in Port of Cork and Port of Waterford are also underway, creating further economic opportunities for the south and southeast.
Keith Hoare, Managing Director, Public Affairs