Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

There was an interesting article in today’s Financial Timesby Larry Summers, a former United States Secretary of the Treasury, in which he spoke of the need for developed economies all over the world to invest in public transport and infrastructure projects. I did not have an opportunity to include it in my text but he made the point similar to Deputy Dooley’s, namely, that if one does not get to a point of maintaining existing infrastructure, then the cost to society and those who depend on that infrastructure really begins to build up. We have a strong transport infrastructure in place which costs money to maintain. If we do not maintain it, let alone look at new projects for the future, we will get to a point where the costs of maintenance will increase rapidly.

That is why I was so committed to securing the budget and making progress in the Supplementary Estimate, which is a figure over €160 million. In response to the first question on where the €45 million is going, it amounts to €44.15 million. Of that, €15.9 million goes into the maintenance of the heavy rail network and €27.6 million is going to the rail car fleet. This will maintain rolling stock and carriages.

With regard to the point about Mr. Franks, I see the funding being a further significant step in looking to improve and strengthen the balance sheet of Irish Rail and the CIE group. Further discussion and work is needed in the future. This is a significant injection into the capital needs of the company to address the need for investment. Where much of the investment will be spent on the busiest part of the rail network. This will ensure it continues to be secure, safe and viable in the future.

With regard to the question about sailing, the Sports Council and the figure of €1 million, I met recently some representatives of the organisation in my constituency office. They articulated their concerns to me about the funding. This may be the same as what the Deputy has raised.