Transport projects set to get 10-year timescale
Mr Cowen also outlined a transport investment programme of €10.2 billion for 2005 to 2009.
He also said he was bringing in guidelines to control cost overruns by private operators and added that the extended time-frame, from the current five-year period, would enable greater planning and management of infrastructural projects.
He said: “Given this time consideration and the scale of the projects and the investment involved, I have now agreed in principle with the Minister for Transport that an extended capital envelope is more appropriate in cases of investment in transport.”
The Minister said he was “extremely conscious” of the need to optimise the value for money from the significant levels of capital funding now in place.
Transport Minister Martin Cullen welcomed the 10-year funding system and said he would shortly bring to Cabinet a detailed plan to deliver a “state-of-the-art” transport system by 2014.
AA public affairs manager Conor Faughnan said the ten-year funding plan was “certainly useful” and said the €10.2bn investment programme was needed.
He said the most significant development was the new proposed guidelines to control the cost of management of projects.
“A lot of the investment made in roads in recent years has been wasted. Up to 2000-2001, cost overruns were typically of 30%. That’s crazy,” he said.
He said he was disappointed the minister did not cut the price of petrol or Vehicle Registration Tax or the 2% insurance premium.
Labour transport spokesperson Roisín Shorthall said the €10.2bn did not seem to be any major increase in funding. She said there were few specifics on transport in the Budget and awaited further details.
The Construction Industry Federation welcomed the ten-year timescale for major projects.
