Government to invest €102bn in infrastructure by 2030 under revised National Development Plan
Tánaiste Simon Harris and Taoiseach Micheál Martin speaking to the media at a press conference for the launch of the Government's Summer economic statement and the National development plan for the next 5 years, at the Government Buildings, Dublin. Picture: Niall Carson/PA Wire
The revised National Development Plan will be the largest investment in infrastructure “in the State’s history,” Taoiseach Micheál Martin has said.
The Government has confirmed that a total of €102bn will be invested in infrastructure projects between 2026 and 2030.
The National Development Plan (NDP) will be presented by Public Expenditure Minister Jack Chambers following Tuesday morning’s Cabinet meeting.
It includes over €200bn in infrastructure investment over the next decade.
An extra €3.9bn was approved late Monday night as leaders worked late in Government Buildings. Most of the additional funding is expected to go to housing, with health also receiving a significant share.
This brings the total additional allocation to the NDP for the next five years to €33.9bn, with overall investment to 2030 rising to just under €104bn.
Speaking on Tuesday, Mr Martin said there is an immediate need for a “step change” in the scale and quality of public investment in critical sectors, including housing, transport, and energy.
“By any measure this will represent the largest investment in economic and social infrastructure in the history of the State,” Mr Martin said.
“This funding will go directly to addressing a range of issues critical to shaping our future.”
The Department of Housing is set to receive the largest capital budget allocation, with just under €36bn allocated over the next five years.
Of this, €28.3bn will fund housing development, while €7.6bn will support the construction of essential water infrastructure across the country.
Additionally, €2bn in equity funding will be provided to Uisce Éireann to help deliver 300,000 additional homes by 2030, according to the report. A further €2.5bn in equity funding will go to the utility for large-scale water projects between now and 2030.
The Department of Transport will also receive substantial funding, with €22.3bn allocated over five years.
More than €2bn from the Infrastructure, Climate and Nature Fund will be invested in low-carbon transport, including the long-anticipated Metrolink project.
Other major capital allocations include the Department of Health, which is set to receive €9.25bn over the next five years.
However, specific projects have not been detailed in the revised plan, which focuses solely on departmental funding.
There will be an injection of €3.5bn into the energy grid, described as a significant boost for the sector.
Defence spending will increase by 55 percent over the next five years, rising from €1.1bn to €1.7bn, with a focus on radar and sonar systems.
The Department of Justice, meanwhile, will receive a €2.18bn boost.
The Taoiseach said individual projects will be announced by ministers ahead of the October budget.
Negotiations continued late into Monday night, with housing among the final areas to be agreed.
One Government source described housing as a “big beast,” noting the desire to ensure correct allocations.
Sources emphasized that the NDP announcement will be a review, not a new plan, and that specific projects will be announced later.
New capital allocations for each department will be confirmed by the minister. However, details on how departments will use their funding won’t be released for another three months, with specific projects expected on budget day in October.
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