Under the Public Capital Programme, CIE's annual capital expenditure is normally financed from the board's own resources or by borrowing or by a combination of both. Exchequer capital grants are not made available to CIE. Capital expenditure incurred by CIE on rolling stock in 1990 amounted to £2 million and this expenditure was financed by the board from their own resources.
In November 1990 I gave approval to CIE to acquire 17 new railcars at a cost of £18 million. Provision has been made in the 1991 Public Capital Programme for expenditure of £4.5 million on this rolling stock. I am satisfied that the investment I have approved will allow Irish Rail to improve the quality of their rolling stock on suburban railway lines.