Dáil Éireann Debate, Tuesday - 30 January 2018
184. Deputy Maureen O'Sullivan asked the Minister for Public Expenditure and Reform his views on Ireland spending considerably less per capita on infrastructure than other European countries; his plans to place more emphasis on productive spending on services and infrastructure rather than tax cuts; and if he will make a statement on the matter. [4151/18]
Amharc ar fhreagraAs I announced at Budget 2018, Government has allocated significant increases in public capital investment amounting to €4.3 billion over the period 2018-2021. This was in addition to the additional €2.2 billion for housing already allocated prior to that for the implementation of the Action Plan for Housing and Homelessness. These funding allocations were, inter alia, intended to address bottlenecks and infrastructural deficits, informed and advised by the detailed analysis and assessment carried out in the context of the recent review of the 2015 capital plan Building on Recovery which I published in September.
Consequently, between 2014 and 2021, public capital expenditure in Ireland will have more than doubled and as set out by the Irish Fiscal Advisory Council, this will see public investment in Ireland moving to amongst the highest in the EU.
I am satisfied that this new planned level of public capital investment represents an appropriate balance between the need for additional investment to realise the economy's long-term growth potential, the capacity of the economy to deliver additional public infrastructure consistent with fiscal and macroeconomic sustainability, and the need to adhere to the responsible spending path agreed by Government with reference to the requirements of the EU Fiscal Rules.
Work is also at an advanced point in preparing a ten year capital plan to underpin the delivery of the new spatial planning framework detailed in the Ireland 2040 Plan. The level of investment envisaged under the new plan is intended to confirm the Government's commitment to continuing to develop and improve Ireland's public capital stock.
