Creighton: Government should borrow now for urgent national projects

Lucinda Creighton has said the Government should be borrowing more money, saying it has never been cheaper to do so.

However, the Renua leader said the money should be spent specifically on major capital projects which would benefit the country as a whole.

Ireland's cost of borrowing has dropped dramatically in recent months as a result of various measures by the ECB.

The Renua leader said Ireland should use this opportunity to borrow for projects that are desperately needed.

She said: "There will never be a time like this to borrow for capital investment (which is) very different from current expenditure.

"We've seen current expenditure ballooning in the last 12 months, but for some reason we're seeing very little by way of prioritisation of capital expenditure...for things like the interconnector (underground tunnel, connecting the Docklands and Inchicore with underground stations in key locations), which is a key project for Dublin that urgently needs to happen."

The interconnector project was parked in 2011 in favour of other projects.