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

As previously outlined to the Deputy in the response to his parliamentary question on this matter at the end of September, the capital review was published on 14 September. I understand all Members of the Oireachtas received a hard copy on that date.

To recap, the review of the capital plan highlighted some key themes which will closely inform and be incorporated into the analysis leading to the finalisation of the new ten-year plan for public capital investment 2018 to 2027.  The themes include confirmation of the central role of public capital investment in underpinning the economy; the need to align public capital investment priorities with a changing demographic profile; the critical importance of public capital infrastructure in meeting the requirement for balanced regional growth and promoting the change needed to achieve our climate action objectives; responding to Brexit; supporting value for money; and ensuring we have a strong business case in place in spending the public's money.

The review of the current capital plan identified a number of key sectors as priorities for investment, including transport, education, housing and health.  The findings of the review assisted the Government in selecting priorities for the allocation of the additional €4.3 billion capital expenditure allocated in budget 2018 in the period to 2021. Consequently, between 2014 and 2021, public capital expenditure in Ireland will have more than doubled which, as set out by the Irish Fiscal Advisory Council, will see public investment in Ireland moving to be among the highest in the European Union.

The ten-year capital plan is in the process of being finalised. It will set out the public capital investment objectives beyond 2021. Across that period a key factor will be aligning this expenditure with the new national planning framework detailed in the Ireland 2040 plan. The previous lack of integration of expenditure with such plans contributed to the difficulties from which we are emerging. On foot of my request, this work will include the work carried out by the IMF on the public investment management assessment, PIMA, for Ireland.

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