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

I propose to take Questions Nos. 2 and 4 together.

As I have previously indicated, I intend to provide the capital required to fund the additional cost of proceeding with the national broadband project from future revenues.  This will be done, and has been done, in the context of updating the overall capital ceilings set out in Project Ireland 2040.  This means that the decision to approve the appointment of the preferred bidder will have no repercussions for other planned projects within the national development plan, NDP. Additional costs in respect of the national children's hospital have been met this year by reallocating savings made in other sectors, within the overall national capital envelope.

The Deputy went on to refer to the Irish Fiscal Advisory Council. The council has carried out some analysis of the impact of cost overruns in its latest fiscal assessment report, which draws on domestic and international experience.  It is really important to note that we have not experienced cost overruns of €17 billion, nor is any such scale of overrun in prospect.  What IFAC has prepared is a technical projection of the situation if the very high cost overruns we experienced with regard to the national children's hospital were to be experienced on all major projects.

 As IFAC goes on to point out, Ireland is not alone in facing challenges in managing cost on major projects.  This is why Project Ireland 2040 seeks to reform how public investment is planned and delivered. It sets out a strategic vision for public capital investment and signals a shift to a greater integration of regional investment plans with local planning. It also involves a number of different bodies including a construction sector group, a delivery board, and an investment projects and programmes officer, who will oversee the delivery of the plan.

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