Increased investment and strong National Development Plan delivery - Minister Chambers
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From: Department of Public Expenditure, NDP Delivery and Reform
- Published on: 25 February 2025
- Last updated on: 26 February 2025
Record capital expenditure of €14.6 billion was spent by departments up to the end of 2024. In year-on-year terms, capital expenditure was €2.1 billion or 17% higher than the end-December 2023 position. In addition to the €14.6 billion of Exchequer investment in capital, a further €500 million carried forward from 2023 was spent, bringing the overall level of capital spend up to €15.1 billion. This level of expenditure continues to demonstrate the commitment of Government to invest in essential infrastructure projects and programmes.
Significant progress has been made in many sectors across 2024, including Education, with a budget increase of 15% over 2023 to take their spending to above €1.4 billion. This allowed the department to achieve delivery of over 200 projects including 24 large scale projects.
The Department of Enterprise, Trade and Employment (DETE) had a capital outturn of €974 million, which was principally focused on supporting the job creation programmes of DETE’s Enterprise Agencies as well as supporting investment in innovation. This is an essential component of an enterprising and productive economy. DETE’s 2024 capital expenditure also supported enterprises to meet the challenges of the digital and climate transitions as well as funding other discrete programmes to harness the potential of disruptive technologies and space-related innovation and technology development.
There was strong capital investment in the Housing sector, with investment in capital projects increasing by just over 40% year-on-year to €4.9 billion.
The Department of Health had an increase in capital expenditure of 5% in 2024, bringing their overall capital spend to €1.2 billion. There is a strong track record of delivery of infrastructure in the health sector. Every allocated euro in the current NDP provision is invested to ensure the department delivers on their core goals of ensuring access to high-quality patient care, reduce waiting times and further cut the cost of accessing care. This is underpinned by a strong pipeline of capital projects being progressed including several new hospitals and significant new facilities for existing hospitals and community-based services.
Significant capital funding of almost €2.7 billion was made available for vital strategic and specific transport improvement projects on local and regional roads, public transport infrastructure and the National Road Network.
Capital grant funding was also aimed at maintaining and renewing key elements of the overall regional and local road network, including the rehabilitation and maintenance of road as well as safety and bridge programmes, drainage works, climate adaptation measures, community involvement projects and the maintenance of former national roads.
Significant capital funding was made available to vital strategic and specific improvement projects which were progressed throughout 2024, including the Shannon Crossing and Killaloe Bypass project, the Coonagh to Knockalisheen Distributor Road in Limerick City and Tralee Northern Relief Road in County Kerry, among others.
Many Public Transport projects were progressed in 2024 such as the Cork Area Commuter Rail, DART+ infrastructure and rail fleet, MetroLink, BusConnects infrastructure development, electric bus delivery, bus depot electrification, park & ride facilities, and train station upgrades.
Minister Chambers acknowledged the record capital expenditure in 2024, and outlined further ambition in 2025:
“There was very positive investment in our critical infrastructure last year to support the needs of our growing and changing demographic, however we know we need to significantly scale this up again this year. This is precisely what we are committed to doing. The Programme for Government has set out a clear ambition to build on this strong base, to prioritise the delivery of transformative, critical and growth-enhancing infrastructure over the next five years embracing new economic opportunities in growing areas including digitalisation and the green transition. The government will continue to invest in infrastructure across housing, electricity, water, transport and other sectors to further boost economic growth, enhance the lives of all our citizens and build better connected communities all across our country."