As the Deputy has noted, the Summer Economic Statement, published in July 2023 provided that an additional €2.25 billion from windfall corporation tax receipts would be made available over the period 2024 to 2026 to boost delivery of critical capital infrastructure projects and make a contribution to the existing Climate Action Fund. This will continue to provide the additional schools, hospital and transport projects that are making a real difference to people’s lives while ensuring that due consideration is given to future environmental challenges that we will need to meet head on.
In this regard, additional capital expenditure of €250 million is being made available for 2024 from windfall corporation tax receipts with a further €2 billion being made available across 2025 (€750 million) and 2026 (€1.25 billion). The overall existing NDP allocations for 2024-26 are set out in the National Development Plan 2021-30 published in 2021.
In order to finalise the disbursement of the €2.25 billion windfall receipts out to 2026 I have held a series of bilaterals with my Ministerial colleagues as well as extensive engagement at official level. Sectoral capital allocations for each Department out to 2026 are therefore still under negotiation. Discussions are focusing on reaching agreement with each of the sectors to allow key priority projects and programmes to be commenced and completed within the 2024 to 2026 period. Once agreement is reached revised sectoral capital allocations out to 2026 for each Department will be published.
Core and non-core capital spending as set out in the Summer Economic Statement is all Exchequer expenditure.
