Oireachtas Joint and Select Committees

Wednesday, 10 July 2024

Committee on Budgetary Oversight

Summer Economic Statement: Discussion

5:30 pm

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

The figures available to me for capital refer to the total capital allocation for the entire Department. Based on the decisions I made earlier on in the year, a further €280 million will be made available to the Department of housing and local government, which will bring its overall funding allocation for next year to €4.19 billion. Based on the capital allocations that have already been made, it is an increase of just under €300 million, or €280 million.

On the Deputy's question regarding what the decision for further and higher housing targets could mean for the future level of capital funding for the Department of housing, my expectation is that if and when the Government makes a decision regarding higher levels of housing targets, it will take time to get to that point. If further capital allocations are needed for that - and I am sure they will be - it will take place for the years after 2025. If we are going to get to the point of building up to a higher level of output in housing, which we will do, that will take place across 2026, 2027, 2028 and beyond. The Government will deal with capital funding for that when we get to that point.

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