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

It continues to play a big role. As we look at the debate on where we are in expenditure and changes that are happening there, I continually hear calls, both inside this House and elsewhere, for additional capital investment and additional spending of money to deliver new homes and better public transport. I understand why those calls are made but we should also acknowledge that from 2016 and as we move to 2020, the level of capital spending in Ireland will move from €4.2 billion per year to just over €8 billion per year. For this year alone, the amount of capital investment in our country will have increased by 22%, which is playing a role in allowing our economy to continue to do well while we are seeing change and the so-called headwinds - a dreadful phrase - of things changing elsewhere or getting more difficult. It is like the idea that risks are always tilted to the down side. Things are shifting elsewhere and we are beginning to see some economies slow down in Europe. So far, our economy continues to perform well. The additional capital investment we are making available for this year is playing a role in that. I have already had an exchange with Deputy Pearse Doherty where I have gone through the kind of reforms we are making. I make the case to Deputy Durkan, which he might be sympathetic towards, that we are doing well in making and delivering many projects across the country but of course things happened with the national children's hospital that should not have happened and that we do not want to repeat. This is why we have the work on the public spending code under way and this is why decisions have been made to put individual capital projects back out to tender to try to get better value for the Irish taxpayer.

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