Dáil Éireann debate -
Thursday, 9 Dec 1993

Vol. 437 No. 1

Written Answers. - Transeuropean Networks.

Michael McDowell

Question:

77 Mr. M. McDowell asked the Minister for Finance the amounts demanded from the Irish Exchequer in the fields of transport, energy and communications as its contribution towards the package of 100 billion ECUs now being proposed by the President of the European Commission as public expenditure towards job creation; and his views on this approach of increasing public debt.

Minister for Finance (Mr. B. Ahern)

The Deputy is presumably referring to newspaper reports about proposals in the White Paper on Growth, Competitiveness and Employment which the President of the European Commission has presented to Heads of State and Government for discussion at the European Council on 10/11 December.

The White Paper is not proposing 100 billion ECU additional public expenditure on Transeuropean networks and indeed says that any contributions from member states will respect the Maastricht guidelines related to public debt.

What is involved is investment in Transeuropean networks over the next five years by the public and private sectors, most of which is already at the planning stage. The White Paper raises the issue of whether existing financing mechanisms in the Community — including Structural Funds, the Cohesion Fund, the EIB and the European Investment Fund — will be adequate to deal with these projects, or whether new mechanisms are needed.

To the extent that there will be Exchequer expenditure on Transeuropean networks over the next five years, provision for it has been made in the National Development Plan 1994-99.