30. Deputy Éamon Ó Cuív asked the Minister for Public Expenditure and Reform if he has requested ministerial colleagues to prepare a list of capital projects which are ready for commencement; the way he envisaged these would be funded; and if he will make a statement on the matter. [24638/13]
View answerPublic infrastructure is funded in two main ways - Exchequer financing and Public Private Partnership (PPP) sourced-funding. My Department is responsible for setting the overall capital allocations across Departments and information in relation to expenditure at project level is a matter for individual Ministers and their Departments.
As regards PPPs, the Deputy will be aware that Departments and Agencies are obliged to consider procurement options for delivery of capital projects with a value in excess of €20 million. The National Development Finance Agency (NDFA) assists Departments in this respect and helps to identify projects that are suitable for delivery through Public Private Partnership. This form of procurement involves upfront financing of the project by a private sector partner with the State making an annual payment to the company, following the construction period, which is performance based and covers the cost of maintaining and servicing the asset.
In 2013, €3.4 billion will be invested through the Exchequer public capital programme. The breakdown of this investment is laid out in the Revised Estimates 2013 which can be viewed on my Department's website (www.per.gov.ie). Additionally, in July 2012 I announced a Government Infrastructure Stimulus Package which included an Exchequer element of some €850 million. This Exchequer stimulus will be funded through the use of some of the proceeds from the sale of State assets and the new arrangement for the National Lottery licence. Progression of this element of the Stimulus Package is dependent on the realisation of those proceeds which are due to begin coming on stream at the end of this year. In preparation for this, my Department has been examining what Growth Enhancing projects could be progressed with this additional funding. That work is on-going and I expect that a number of worthwhile and labour intensive projects will be identified and progressed to an advanced stage of readiness before the State asset and National Lottery moneys come on stream.
