Dáil Éireann Debate, Tuesday - 24 October 2023
213. Deputy Jennifer Whitmore asked the Minister for Public Expenditure, National Development Plan Delivery and Reform the amount of funding set aside, from windfall taxes, for the Climate Action Fund for 2024-2026, as referenced in the Summer Economic Statement 2023, including the amount ring-fenced for nature restoration; and if he will make a statement on the matter. [46611/23]
View answerAn additional €2¼ billion, from windfall corporation tax receipts, will be made available over the period 2024-2026 to boost delivery of critical capital infrastructure projects and make a contribution to the existing Climate Action Fund (CAF).
As mentioned in the Expenditure Report, my Department will be reviewing the sectoral capital allocations to be provided as part of the National Development Plan for 2026 to 2028, to allow for five year capital ceilings. The additional allocation of €2.25bn will be dealt with in the context of this work. It is expected that this work will commence shortly and will be finalised by end Q1 2024.
The Climate Action Fund (CAF) was established to provide assistance and financial support to projects which will help Ireland achieve its climate and energy targets. The Department of the Environment, Climate and Communications (DECC) is responsible for the CAF’s implementation and the management of the CAF is a matter for DECC.
