John Paul Phelan (Carlow-Kilkenny, Fine Gael) | Oireachtas source

The provision for structural reform of the economy exists under the existing fiscal rules but it has never really come into play. Perhaps this is an area where it can practically come into play. I have two brief questions. I read an IMF report recently in which it became clear that of the countries that had been studied, up to 90% of their capital funding was secured from private sources. In Ireland we do not come near even 10% but we have this traditional perception that capital funding must always come directly from the State to provide a road or whatever. Are there ways and means in which we can try to lever more money out of the private sector into capital investment projects? We have done it in bundles of schools and things like that, which has been successful to a degree and things have changed from a position a few years ago where there was virtually none from the private sector. Can we do more and is there an interim measure that could help to bridge the gap before the change in the fiscal rules? The change in the fiscal rules will require a treaty change and we are familiar that such things do not happen that easily.