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

I have not discussed the specific report to which the Deputy referred with the European Commission, but I have raised with it the need to make sure the fiscal rules facilitate appropriate levels of public capital investment in those things which will allow the economy to grow in a sustainable way. Within the fiscal rules as structured, the plan we launched, Ireland 2040, looks to provide for a very significant increase in capital expenditure year by year. The Deputy will find that by 2021 the figure for capital expenditure will be 3.8% of national income. Year by year, there will be increases in capital expenditure of at least €700 million per year. We have to ensure that as we increase expenditure at that rate we will have the capacity within the economy to translate it into investment at prices we can afford.

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