High toll: State projects soar by €7.5bn

THE cost of the country’s major infrastructural projects have soared by up to €7.5 billion, latest figures reveal.

Opposition parties have accused the Government of losing its grip on spending with many projects threatening to spiral out of control. Last week, Taoiseach Bertie Ahern did another U-turn after ruling out the Dublin metro, at least in the short term, after costs soared to €4.8bn from the initial €2.2bn price tag.

The combined cost of the Luas and Dublin Port Tunnel has jumped by almost €500 million. The original cost of the Luas was €279m, with a €220m price tag on the Port Tunnel. However, the final cost of the two projects is more likely to be closer to €1bn.