The Department’s capital budget for 2020 should be considered in the context of an increase of over 26% between 2018 and 2019 (€745m in 2018 rising to €941m in 2019). Also, the value achieved from the disposal by TU Dublin of its Kevin Street property, the sale of which closed in August, means that the Department no longer needs to set aside a significant funding envelope for the Grangegorman development in 2020. The Kevin Street property sold for €140m which was about €60m above the guide price. This reduces pressure on the Department’s capital budget in 2020.
The allocation for my Department's School Buildings programme in 2020 is broadly in line with the allocation for 2019. In 2019 the allocation was €622m. The allocation envisaged for 2020 is €620m. This €2m reduction will have no material impact on the school building programme.
Given these circumstances the impact of the changes to the capital budget is unlikely to impact to any significant extent on projects.