Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

I share the premise underlying the Deputy's question that following the right investment strategy is critical to securing economic progress and social development. The process leading up to the publication of the current plan sought to ensure that resources were focused where needed in order to drive economic recovery and meet social needs. This principle was also central to the strategy detailed in the programme for a partnership Government. In specific terms, the programme has proposed, subject to Oireachtas approval, an additional €4 billion in Exchequer capital investment up to 2021. This additional spending in transport, broadband, education and flood defences will be allocated on the basis of the outcome of the mid-term review of the capital plan by mid-2017 that was announced at the time of the publication of the capital plan, the commitment to which was confirmed in the Government's programme.

As always, to support traditional procurement, alternative means of funding necessary infrastructure will also continue to be explored. This is in line with many previously successful investment plans and will build on the success of such methods as public private partnerships, PPPs, and commercial State sector investments.

What is important, however, is that any such off-balance sheet funding arrangement be pursued in a manner that is sustainable in the long term and that the public finances can afford.

I look forward to hearing the views of the Deputy and his colleagues, in addition to those of all Members of the House, on capital investment priorities based on the opportunities provided in the reform of the budgetary process in regard to which the Government announced its proposals last week.

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