Tuesday, 1 April 2014

Questions (229)

Michael Moynihan

Question:

229. Deputy Michael Moynihan asked the Minister for Public Expenditure and Reform his plans for the resources raised by the sale of Bord Gáis Energy; if 50% of the revenue will be used for job creation measures; and if he will make a statement on the matter. [15210/14]

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Written answers (Question to Public)

The House will be aware of the Government's consistent position that the funds released from asset disposals, including the sale of Bord Gáis Energy, should be used, in one form or another, to support job creating initiatives in the economy. At Budget time, I factored a total of €110m into the Estimates for 2014 in respect of projects supported from the sale of State assets. €45m of this will fund part of the advance works associated with the new PPP Programme. Specifically, €25m will be spent on the Grangegorman project and €20m on road PPPs. The remaining €65m will be spent on the continued roll-out of the additional Exchequer investment projects announced in 2013 (€25m on Energy and €40m on Schools). I have already indicated that additional capital investment has been authorised to deal with the flooding crisis and the determination of the amount of money available for further stimulus investment will be considered in this context.