Michael McGrath (Cork South Central, Fianna Fail)
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I think it is important to put it in context. The capital budget for 2020 was a little under €8.2 billion. We made funding available on an exceptional basis of the order of an extra €1.5 billion during the year. Much of that was for grants. This would not be typical capital expenditure in the form of bricks and mortar. We provided approximately 1.5 billion extra on a once-off basis. What we have committed to is that the ceiling in the national development plan for 2021 of €9.2 billion will be met. We are looking at whether there is scope to go beyond that and increase it further.

When we talk about a 12% increase, which the Deputy raised on the floor of the Dáil, that is above and beyond the amount that was budgeted for 2020. The additional amount in 2020 was of an exceptional nature and would include many of the restart grants. We had two rounds of those for businesses. There was capital expenditure in health as a crisis management response.

It is important to say that what we are doing now is very different from a decade ago when capital expenditure was cut by up to 60%. I would not understate the importance of the Government committing to maintaining capital expenditure of over €9 billion. The final figure will be confirmed on Tuesday.