Sean Barrett (Independent) | Oireachtas source

I move amendment No. 57:

In page 21, between lines 14 and 15, to insert the following:"(g) the published capital project appraisal procedures of the Minister for Finance and the Minister for Public Expenditure and Reform.".

This week, the Government will publish its medium-term strategy. I hope that one of the strategy's elements will be to secure the proper evaluation of large public capital projects. We have a tradition of not doing so. In fact, we used to boast that our public capital programme was twice the EU average. If one invests in a cavalier approach, one ends up with our debt problem.

The Department of Finance has an evaluation section. We must be able to illustrate to society as a whole, which will be the investor in these capital projects, that we have made some attempt to comply with guidelines and estimate the returns. We have the so-called edifice complex, that is, building in the mistaken view that it is a large multiplier. The Minister for Finance disproved that complex for us last week.

Spending Departments will just keep on spending, but capital guidelines should be observed and adhered to. As it involves the use of public money, my amendment No. 58 would require the Ministers for Finance and Public Expenditure and Reform to be involved. This is sensible, and we are paying the price for not doing so previously. Large capital projects must be carried out in a way that makes efficient use of resources.