1. Introduction

When we launched the Executive's Investment Strategy in early 2008, we set out to deliver the largest ever programme of capital investment in our local public services. We recognised that a modern infrastructure is critical to the future success of this region - it underpins our economy and society and helps us to improve public services for all - and that remains true today.

A lot has been achieved since 2008. We have already delivered capital investment at unprecedented levels, despite the economic downturn. This is starting to put right the legacy of underinvestment that we inherited from Direct Rule. We are determined to sustain the momentum. People are now enjoying the benefits of improved roads, new public transport, healthcare facilities, schools and libraries. Behind the scenes, our water and waste water treatment facilities and telecommunications network have also had significant improvements. Since devolution, locally accountable Ministers have taken firm steps to ensure that all the money that is available to the Executive is invested and, in total, around £5bn has been invested since 2008.

This document updates the Investment Strategy as we move into a new budget period and will now be subject to public consultation. It highlights the progress made to date and sets out the next phase of investment in key projects and programmes. While our resolve to invest remains resolute, the scale and focus on investment is updated to reflect the current economic climate and our focus is now on protecting jobs, fostering economic recovery and protecting public services. The decision of the Coalition Government at Westminster to cut public spending means that there will be less money than we had anticipated. We are focused on prioritising infrastructure programmes that will deliver the best return in the period ahead.

Local businesses have a vital part to play in helping us to deliver the Investment Strategy. This is helping to protect jobs throughout all parts of the supply chain - in technical services, quarrying, transport, fabrication, construction and f t-out. To ensure that everyone has a chance to contribute, our departments now publish comprehensive up-to-date information on all planned capital works funded under the Investment Strategy so that everyone can stay informed about our latest plans and timescales, and can track our progress. This information is available on the Executive's Investment Strategy website, www.isni.gov.uk. It also underlines our commitment to open and transparent government, accessible to all in our community.

Securing value for money is very important to us all. We will continue to improve the way we deliver essential public services and to protect frontline services from the cuts imposed on us. By coordinating our investment plans through one Investment Strategy, government departments and related public bodies can identify opportunities to collaborate with each other and with external partners in order to deliver better services across the region and avoid wasteful expenditure. The right infrastructure in the right place is helping us to drive up productivity, drive out waste and improve service quality - all of which helps to protect frontline services at a time of lower public funding.

At a time of economic uncertainty, this Investment Strategy represents a significant stimulus that will protect jobs and lay down a modern and efficient infrastructure that will serve all our people well for many decades to come.

Our priorities for the next phase of the Investment Strategy reflect Executive priorities which are:

•  Growing a sustainable economy and investing in the future;

•  Creating opportunities, tackling disadvantage and improving health and wellbeing;

•  Protecting our people, the environment and creating safer communities;

•  Building a strong and shared community;

•  Delivering high quality and efficient public services.