Michael Colreavy (Sligo-North Leitrim, Sinn Fein) | Oireachtas source

I would certainly welcome many of the projects that are listed in the plan. I have worked out that over the six-year period covered by this plan, Ireland will continue to have one of the lowest levels of capital spending of any country in Europe. This overall figure includes public private partnerships. I would argue that such partnerships are a very inefficient way of doing business because it costs more to borrow the money and investors and shareholders have to be paid out of it. I think it is far better to provide for public investment in public services because a return can be got from it. The Minister has not answered my question about the extent to which this is predicated on the economy doing well. Could this Government or any future Government decide not to proceed with certain projects in this plan if the economy is not doing as well as expected? Is it anticipated or possible that the EU could direct us to have less ambitious capital plans - if one wants to use the word "ambitious" in this context - that differ from those announced in the report?

See this speech in context