Brendan Howlin (Wexford, Labour) | Oireachtas source

I agree with the Deputy that the main dividend of the sale of State assets is having the capacity to reinvest in the economy. He has been critical of the reduction in the general capital programme, but we need investment. I have worked hard to find alternative sources of money to invest. I cannot provide a jobs tot because I will not have the money until this year. I announced and authorised the spending of money in last year's budget in the expectation that money would come on stream this year. I did so because I did not want to delay the advance preparation of PPPs. For example, to allow PPPs to hit the ground running, €25 million is being spent on advance works at Grangegorman. The same is happening in respect of road projects. I hope the second largest road project, the Tuam project, will be signed off on shortly. It will not be until I have sight of the total volume of money available and its phasing that I can given more information. As I have explained to the House previously, there are Government accounting issues in the phasing of the payment of money.

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