Thursday, 12 December 2019

Questions (81)

Martin Heydon


81. Deputy Martin Heydon asked the Minister for Public Expenditure and Reform if the target of achieving a spend of 4.1% of GNI* in capital expenditure by 2021 and maintaining it thereafter as envisaged in Project Ireland 2040 will be achieved. [52499/19]

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Written answers (Question to Public)

I should first clarify that the National Development Plan projected that public capital investment would reach 3.8% of Gross National Income (GNI*) in 2021 and 4% by 2024. Government intends that public capital investment will be maintained at approximately 4% of GNI* for the remainder of the period of the National Development Plan.

I am pleased to inform the Deputy that the Government has exceeded its forecast and Gross Voted Capital Expenditure will reach 4% of GNI* in 2020.

The NDP sets out the planned spending envelope, out to 2027. While all forecasts are subject to some degree of variation, and factors such as the capacity of the construction sector to deliver will need to be monitored, current indications are that the planned level of spend will be in line with the broad intention to maintain spend at approximately 4% of GNI*.