Infrastructure costs must be controlled: McCreevy

Public spending - particularly on infrastructure - must be kept under control, the Minister for Finance Charlie McCreevy has warned.

He said next month's Budget would focus on economic competitiveness while controlling costs in the public and private sectors.

A downturn in exchequer returns must lead to a slowdown in public spending, he added.

Last week's Economic and Social Research Institute's (ESRI) report into Government spending also occupied McCreevy's thoughts.

He said it has raised serious issues in particular the projected costs of infrastructural development and the actual cost when the project was finished.

The Minister stated that "massive overruns" would no longer be tolerated.

He was speaking at a conference organised by the Construction Industry Federation.