Dáil Éireann Debate, Thursday - 4 July 2024
190. Deputy Bernard J. Durkan asked the Minister for Transport if he remains satisfied with the adequacy of capital investment in the transport sector for the foreseeable future; and if he will make a statement on the matter. [29067/24]
View answerAn investment allocation of €35 billion was agreed with the Department of Public Expenditure, National Development Plan Delivery and Reform, as part of the revised National Development Plan in 2021, for the period 2021-2030. From this overall envelope, a total of €13 billion was allocated to the Department's Vote for the period 2021-2025, and set out in published capital ceilings. The Department is fully funded for 2024. For 2024, the Department forecasts that expenditure will be more or less on target, compared to a budget allocation of €2,679.450m.
During the spring, the Department negotiated an additional share of capital from the Windfall Reserve Fund for the period 2025 and 2026. The capital ceiling set for 2025 is €2.850bn and for 2026 is €3.350bn. Agreeing the capital allocations will assist the Department in planning into the medium term and prioritising and sequencing the full range of projects that will continue to emerge from the planning system in the coming years. It will also assist in funding existing commitments, for example protection and renewal and active travel investment.
