Government to announce €27bn in capital spending today

Government to announce €27bn in capital spending today

The Government's plan for capital investment will be announced this afternoon.

A new rail link from Dublin city centre to the airport and Swords - most probably a metro service - will be the centrepiece of the announcement.

Around €27bn in spending up to 2022 will be unveiled - but some of the funds such as that earmarked for housing has already been announced.

Capital spending has suffered during the recession with few projects getting the go-ahead, and many cancelled.

Transport was the biggest to be hit, but today one of the plans - for a metro service to Dublin Airport and Swords - will be resurrected, though likely with fewer stations.

Roads will also see investment and €1bn is to be spent on flood relief programmes.

It has already been announced that €450m will be spent bringing state run nursing homes up to standard, while the Children's hospital will also be included again, and more primary care centres are to be built.

More social housing will be promised on top of the €3.8bn already committed to.

Education will also see €3bn promised, alongside a commitment to remove prefabs in schools - but much of the money will be needed just to cater for the growing population.

UPDATE (8.40am): Taoiseach Enda Kenny later said the announcement was not an example of ‘auction politics’.

“It’s an attempt, really, to address priorities in a whole range of sectors, and the details will obviously be outlined by the Minister for Transport and the minister for Public Expenditure at 1pm,” he said.

“The next Government will introduce Budgets right out to 2020 for 2021, so there’s no need to be getting excited about an election yet.”


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