Peter Burke (Longford-Westmeath, Fine Gael)
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There has been a significant increase in capital expenditure and, over a five-year period, it is up almost 90%. The question arises of the payback to the wider economy. In a previous period when there was double-digit growth in current expenditure, credit increased quite rapidly, whereas credit is almost at stalemate at the moment and the macroprudential rules are acting as a safeguard to prevent the property market overheating. In addition, there are more than 2.1 million people operating in a very diverse employment market. Will the witnesses give a view on the issue of investing in capital expenditure given those significant increases, in particular when one views that compared to current expenditure increases, and the risks therein?