€2.6bn to be spent on capital projects

The Government is set to fast-track almost €3bn worth of airport, port, Luas, and road capital projects and seek extra EU funding within months in a bid to entice companies to re-locate to Ireland after Brexit.

However, some projects will face an “acid test” of proving they can create an “income stream” to effectively pay for themselves over time, potentially leading to new transport tolls and fares for already struggling members of the public.

Finance Minister Michael Noonan and Public Expenditure Minister Paschal Donohoe confirmed the moves at the launch of a review of the Government’s 2016-2021 capital project plan yesterday, during which they also revealed extra money will be sought from the European Investment Bank this year.