The government has allocated almost €275 billion in capital spending over the next decade in a revised National Development Plan.
The Summer Economic Statement also estimates €1.5 billion is there to implement tax cuts in October's Budget and almost €8 billion in new spending.
Taoiseach Micheál Martin says housing is the key challenge facing the country for the rest of the decade:
"We need to implement a new level of investment. Investment that will protect the competitiveness of our economy, safeguard and grow employment, reduce upward pressures on key prices and address the defining social challenge of our time - housing."
Speaking to RedFM News, Junior Transport Minister and Cork TD Jerry Buttimer says people can expect to see plenty of development here:
"What it means for us in Cork will be more homes and schools, better healthcare facilities like the elective hospital being delivered, new roads, connected infrastructure and investment in disability services. The €200 billion National Development Plan is about delivering for the people of Cork whether it is the light rail, redevelopment of the docklands, more importantly the creation of more homes and the building of more schools."
