Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

I thank the Deputy. In the current year, taking account of the carry forward from 2020, we have a capital budget of €10.8 billion, which is the highest amount in the history of the State. It is more than 5% of GNI* and it compares very favourably with other EU member states. The Government is committed to an ambitious public capital programme and we are currently reviewing the national development plan with a view to ensuring that its content is properly aligned with Government priorities and the national planning framework as well. For the purposes of the stability programme update, the central assumption we have made on a technical basis is annual expenditure growth in core terms, as we measure it, of approximately 3.5%.

While that is the assumption, policy decisions will be made by the Government over the coming period that will have an impact on the actual level of expenditure in the years ahead.

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