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

Across the same period, capital expenditure has increased considerably. In 2021 it stood at €9.78 billion. That was an increase of 19.8% versus the previous year. From 2021 to today, this year, it has increased from €9.78 billion to €13 billion. There has been a very big increase in the overall rate of capital expenditure. This has been done not just to cope with the effect of inflation and the cost of raw materials, but also with a view to increasing output and allowing the State to do more. There always will be a case made to spend more on capital projects. We have done that, but if we are trying to make sure expenditure overall is growing at a reasonable pace that can be affordable to the taxpayer both now and in the future, we have to take account of the current spending needs that exist. That is what we have looked to do year on year as well.

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