Donnchadh Ó Laoghaire (Cork South Central, Sinn Fein) | Oireachtas source

The part of the Minister's response that jumps out at me the most is the reference to the 12 km of the N28. The investment involved would result in 1,100 high-end jobs, but there will be a potential loss of €59.4 billion in present value terms over 25 years if it is not developed quickly enough. The value for money in this project is enormous. If the Government is serious about balanced regional development and attracting major multinational employers outside the Dublin region then projects such as this need to be prioritised.

The Minister mentioned two self-imposed constraints on the Government. The first is the fiscal compact, and we made an argument at the time of the referendum about the implications that would have for capital spending. Even within these restrictions, however, the Government's proposed capital plan is under-strength and unambitious. For some time, the State has been below the OECD average for spending on capital infrastructure, and that state of affairs continues. This project has been long-fingered for too long. Massive amounts of freight travel through the surrounding villages, which is having a detrimental impact on the communities there, and it will be a serious loss for Cork, Ringaskiddy, Carrigaline and the whole harbour area, not to mention the southern part of this country, if this is not delivered soon. A starting date in 2021 is far too late, and by then Cork and the region will already have lost out on billions.

Incidentally, the Minister mispronounced my name. I am Deputy Ó Laoghaire.

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