Oireachtas Joint and Select Committees

Thursday, 15 July 2021

Committee on Budgetary Oversight

Summer Economic Statement: Minister for Finance and Minister for Public Expenditure and Reform

Photo of Michael McGrathMichael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

We have set the overall framework in the SES, on both the current and capital expenditure sides. From 2022 to 2025, the expenditure will be of the order of €50 billion in our public capital investment programme. Housing will be the big winner because we recognise it is a top priority across society and a key priority for Government. Compare that €50 billion across all Departments in capital spending over the next four years to the equivalent figure for the previous four years, including this year, of €31 billion. For the four years from 2017 to 2020, the figure was €26 billion. By any measure, we are seeing a rapid expansion of the public capital programme and the precise figures allocated to housing will be confirmed once Government approves Housing for All and the national development plan ceilings.

It will be critical to ensure value for money. This is not just about providing resources, but about delivery. There are capacity constraints and bottlenecks in the system. The Government will focus on those and provide significant resources for the delivery of public and affordable housing. We will do all we can across Government to unlock some of those challenges and bring about the delivery we all want to see.

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