Brendan Howlin (Wexford, Labour) | Oireachtas source

On Tuesday, 13 May, I announced phase 4 of the infrastructure stimulus projects. This phase involves €200 million of Exchequer investment to fund projects in a range of sectors, including road schemes, social housing to meet acute needs arising in that area, and a range of tourism-related works that will help to support long-term jobs in that sector.  This investment will also help to fund a range of projects commemorating the foundation of our State.  As with previous investment packages, the projects are spread around the country and will create economic activity and employment on a regional basis. The investment will be funded through the Exchequer from the proceeds of the sale of State assets.

The phase 4 stimulus announcement does not involve any PPP projects. The initial stimulus announcement I made in July 2012 included €1.5  billion of PPP investment, and work on the delivery of those projects is under way by the relevant Departments and agencies. Value for money testing is part of the standard project appraisal process for PPPs that is carried out by the National Development Finance Agency, NDFA, and the relevant sanctioning authority in each case.

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