Written Answers - Capital Expenditure Thursday, 12 January 2012

Dáil Éireann Debate Vol. 751 No. 2 Unrevised Page of 187

  33.  Deputy Brendan Smith      asked the Minister for Transport, Tourism and Sport      his reaction to recent reports of criticism from the European Commission over the front loading of capital spending cuts in 2012; and if he will make a statement on the matter. [1570/12]

Minister for Transport, Tourism and Sport (Deputy Leo Varadkar):    My Department’s capital allocation for 2012 and the following 4 years as set out in the “Infrastructural and Capital Investment 2012-16: Medium Term Exchequer Framework” published in November 2011 represents the outcome of the Capital Expenditure Review carried out last year across all Government Departments.

Throughout the process I recognised the need for my Department to deliver on its share of the required reduction in public expenditure.

The capital allocation for Transport, Sport and Tourism for 2012 is €1,231 million. This is a reduction of €98 million, or just under 7.4%, from the allocation of €1,329 million under the National Recovery Plan. Cuts in subsequent years are greater, ranging from over 12% in 2014 to almost 18.3% in 2016.

I have prioritised funding to protect existing investment and to maintain safety standards but have also secured funds to advance a small number of projects which will add value to the existing network and support economic recovery and job creation.

Unfortunately, given the difficult financial situation hard decisions as regards spending cuts had to be taken as part of the fiscal consolidation now required of Ireland.

Question No. 34 answered with Question No. 10.

Question No. 35 answered with Question No. 13.

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Last Updated: 07/02/2012 19:04:58

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