Wednesday, 20 June 2018

Ceisteanna (102)

Jonathan O'Brien

Ceist:

102. Deputy Jonathan O'Brien asked the Minister for Finance if his Department will cost a capital plan for each of the years 2019 to 2023 with the national development plan, NDP, for the same period (details supplied). [26942/18]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

As the Deputy is aware, in order to assess the impact of capital smoothing of the proposed voted capital expenditure model the actual capital expenditure in 2016 and 2017 along with that planned for 2018 have to be included in the calculation, as these impact on 2019, 2020 and 2021.

The following table takes this into consideration and, combining it with the plan as submitted, results in the following amounts of capital expenditure recognised under the expenditure benchmark each year:

Expenditure

2019

2020

2021

2022

2023

Exchequer capital expenditure, € millions

8,500

8,900

9,618

10,118

10,618

Amount after capital smoothing applied, € millions

981

952

1,030

1,080

530

Exchequer capital expenditure,  per cent of GNI* ^

3.8

3.8

4.0

N/A

N/A

Exchequer capital expenditure, per cent of GDP ^

2.6

2.6

2.7

N/A

N/A

^Nominal GDP and GNI* out to 2021 were published in annex 2 of the Stability Programme Update 2018. These series have not been estimated beyond 2021.

 In regards to the request to cost the National Development Plan - in my response to PQ 160 on 27 February I set out the impact on net fiscal space for the years 2019 -2021. This detailed response takes into account the Exchequer and non-Exchequer impact as well as the issue of capital grants versus gross fixed capital formation.

Table 3 of the 2018 Summer Economic Statement takes these details into consideration in the calculation of fiscal space under the expenditure benchmark.