Stadium is modest investment we can well afford - Taoiseach

A country that has made the breakthroughs we have over the past few years deserves a moment of celebration

A country that has made the breakthroughs we have over the past few years deserves a moment of celebration. When a country finds itself at peace after years of conflict; when the people of that country are in a position to solve social and economic problems after years of adversity, then it is time to develop a rounded vision about the quality of life we can build for everyone who lives on the island.

Over the past couple of years, I suppose it's true to say that I have spent a lot of time on the two issues of peace and economic growth. In a way, they have been intertwined - the search for peace on the island of Ireland, and the task of trying to put our economy on a sound footing into the future.

We've made huge progress as a people under both headings, and I strongly believe that opens up a major opportunity for us all. Everyone on this island, in his or her own way, has contributed to the achievement of peace.

And thousands of people have made sacrifices in the cause of building a strong and developing economy.

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We have finally arrived at a point where opportunity has replaced adversity. Putting that opportunity to work demands vision. Sports Campus Ireland, and Stadium Ireland, is part of that vision. It's a small part in one way, and a huge part in another.

To put it into context - we intend as a country to spend nearly £41 billion over the next seven years on developing our infrastructure. That's a huge investment in health, education, housing, training, roads, rail and a host of other areas.

The thing they have in common is that they all underpin our quality of life. And they further strengthen our ability to develop. Getting the infrastructure right is an essential part of the vision. That applies to sport - an area which is just as important as many others if quality of life is the issue.

That's why we have decided to make this investment. And in the context of our overall spending on infrastructure, it's actually a modest investment. Five pence in every £10 of infrastructural investment will build and equip this world-class facility. And it will be something of which everyone who lives on this island can be truly proud.

Even though the investment is modest in overall terms, I said at my press conference yesterday that we wouldn't be making it if we didn't believe Ireland could afford it.

Above all, we wouldn't be making this investment if other essential needs had to be put to one side. But that simply isn't the case. We are in a position to meet all the economic and social challenges we face head on. And, where Sports Campus Ireland is concerned, I have to say that I have been greatly heartened by the immediate welcome our plans have received from such bodies as Special Olympics Ireland and the National Community Games.

I said this was a modest investment but, potentially, a huge part of a national vision. I believe we only have to cast our minds back to those occasions when Irish sports people took on the world and won - very often against the odds - and remember the kind of lift those occasions gave the whole country.

I see Sports Campus Ireland as the kind of opportunity that can give us that lift much more often. In a way we're evening up the odds - giving our sports people the kind of stadium and facilities that any sportsman in the world would be proud to step into.

But it's much more than that. For many families nowadays, in all parts of the world, the possibility of a day out at a major sports event is a thing of the past. There are stadiums all over the world that have to spend all their time and effort in paying off debt, who have to cope with the management of national facilities to such an extent that sport suffers in the end.

The opportunity we're putting in place now will relieve sporting bodies of that burden. It will enable them to concentrate all their efforts on developing individual sports - and it will provide back-up, in the sense of world-class facilities, for sports science, research, and administration.

And, because Sports Campus Ireland will not have to bear the cost of repaying debt, and because of its size, families all over Ireland can look forward to the availability of tickets at prices they can afford. The steps we have taken will ensure that the operating costs of Stadium Ireland will be free of debt servicing, and that is the key to its viability.

The Government was happy to accept the unanimous recommendations of the Stadium Steering Committee, which oversaw the independent and highly professional feasibility study carried out. The assets of Sports Campus Ireland and Stadium Ireland will be vested in an independent trust, chaired by Derek Keogh, who also chaired the Stadium Steering Committee.

The further development and construction of the stadium will be entrusted to a high-powered group, chaired by Paddy Teahon. His track record in the development of the Temple Bar area is, I think, adequate proof of the skill that will be brought to bear.

I fully accept that this is a visionary project - and there will be some who want to knock it for that reason. Every new initiative in recent years - in financial services, urban development, culture and education, to suggest some examples - has had its critics at the start.

But all have worked, and they have all changed Ireland for the better. We're not content to just start this project, to see what happens. Already, the Government have decided that we should look immediately at how much of the project and how many additional facilities we can put in place in time for the Special Olympic World Games in 2003.

Seven thousand athletes with learning disabilities, and their coaches and families, will visit Ireland during those games, for what will be the biggest sporting event in the world that year. We'll be ready for them - and for every other international event we can attract from that moment on.