Paschal Donohoe (Dublin Central, Fine Gael)
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In late 2021, the Government launched the revised National Development Plan 2021-30 (NDP) detailing €165 billion of public investment. In Budget 2024, a significant uplift in capital funding for 2024 will be provided through alignment with the capital expenditure ceilings detailed in the NDP. Total capital allocations will increase by almost €1 billion from €11.86 billion in 2023 to €12.82 billion in 2024.

In addition, as part of the Summer Economic Statement 2023, Government agreed that an additional amount of €0.25 billion will be made available for capital expenditure in 2024, along with an additional €0.75 billion in 2025 and €1.25 billion in 2026. This additional provision is to enable more rapid development of key Programme for Government commitments and targeted at projects at an advanced stage of development.

To support the consideration of NDP ceilings out to 2028, my Department has commissioned the ESRI to carry out an independent evaluation of the NDP focused on the capacity to deliver current Government priorities, sectoral needs, ongoing constraints to delivery and an approach to support delivery priorities over the period ahead. The work of the ESRI is at an advanced stage and they are reflecting on some final considerations before reaching a final draft of the report. I expect to receive the ESRI report before the end of this year. I will present some of the key findings of the report to Government prior to commencing the revision of the NDP allocations. Following this, and post the publication of the Revised Estimates Volume for 2024, my Department will engage with sectoral Departments to commence the process of agreeing sectoral NDP allocation out to 2028. Once this engagement process is complete, it is my intention to publish revised NDP allocations for 2024 – 2028 during Q1 2024.