Dáil Éireann Debate, Tuesday - 7 December 2004
200 Ms O. Mitchell asked the Minister for Transport the reason he has decided to replace the five year capital funding envelope for transport announced in budget 2004, in favour of a new plan; and if he will make a statement on the matter. [32534/04]
View answerThe five-year capital envelope announced in budget 2004 is not being replaced but extended. This is a reflection of this Government's continuing commitment to sustained investment in transport infrastructure. It was a process that commenced with the first five-year multi-annual envelopes which were agreed in respect of public transport in 2001. This initiative was extended to all transport investment in 2004.
Budget 2005 announced two developments. First, as anticipated, the 2004-05 envelope was rolled forward for a further year providing more than €10 billion for the next five years to 2009. In addition, the Government has agreed to the development of a ten-year capital investment framework. This is being done in recognition of the long-term nature of major transport infrastructure investments. These require long lead times for consultation, planning and construction. Clarity on the financial envelope available will greatly benefit this process and enable us to transform the national transport network.
I will return to Government in the coming months to finalise the financial parameters and to outline the programme of investment.
