Minister Donohoe announces update on National Development Plan delivery and capital expenditure for second quarter of 2024
From Department of Public Expenditure, NDP Delivery and Reform
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From Department of Public Expenditure, NDP Delivery and Reform
Published on
Last updated on
The Minister for Public Expenditure NDP Delivery and Reform, Paschal Donohoe T.D., today (Wednesday) announced an update on National Development Plan (NDP) delivery and capital expenditure for Q2 2024.
As part of a package of reforms to boost NDP delivery announced in 2023, the Minister committed to keeping the Government informed on NDP project delivery throughout 2023 and 2024. This week the Minister presented the fifth Memorandum in this series to Government, updating on the progress we are making on capital expenditure and infrastructure provision for the second quarter of 2024.
• The Memorandum sets out the capital expenditure position at end-June 2024, in line with the agreed Government procedures for keeping expenditure under review. The end-June figures show that capital expenditure remains on an upward trajectory, increasing by €1.6 billion or over 50 per cent compared to the same time last year. This expenditure is delivering increased investment in our schools, housing, and transport infrastructure.
• The figures also show that capital spending is €110 million or 2.2% ahead of profile at end-June. The Minister emphasised the importance of staying within budget and that he will continue to engage with his colleagues across Government to ensure enhanced expenditure management in the period ahead.
• As Chair of the Project Ireland 2040 Delivery Board, the Minister’s primary focus is on measures that can assist in removing bottlenecks to delivery of the priorities outlined in the NDP. The Minister chaired two meetings of the Board in Q2 and will continue to work closely with the Board on this important task.
Speaking today, Minister Donohoe said:
"The National Development Plan (NDP) is central to delivering the vital infrastructure needed to support our future economic and social progress. I was pleased to inform Government this week of the progress we have made in the second quarter of this year in ensuring continued delivery of the NDP.”
"Capital expenditure has been prioritised in recent years. This year, the Government has taken major steps in further accelerating the delivery of critical infrastructure projects. This is demonstrated by the agreement in March with my Ministerial colleagues on the distribution of an additional €2.25 billion of windfall corporation tax receipts over the period 2024-26. The additional €2.25 billion builds on the existing funding of €165 billion already available under the NDP and it will mean more schools, housing, transport and healthcare projects can be progressed and delivered across all areas of the country.”
"There is a continuing need to improve infrastructure, particularly in the context of a growing population and economy - building more houses, building more schools and other vital public infrastructure that will improve the quality of life for everyone living in Ireland. On the occasion of the publication of the Summer Economic Statement (SES) last week I was pleased to announce that the expenditure ceiling set out in the SES for 2025 will facilitate a Budget that can provide further increased levels of investment in the NDP - through an increase of €1.4 billion (10.6%) over the 2024 investment to €14.5 billion in 2025. This record level of investment will deliver significant outputs and outcomes for the country.”
" The Government is also committed to communicating clearly and transparently the significant progress being made under the NDP. In Q2 I was pleased to publish the Build 2024 Report, which provides a comprehensive insight and a number of key findings into various aspects of the construction and built environment sector including costs, planning, skills, productivity and sustainability.”
"In this quarter I was also pleased to chair an off-site meeting of the Project Ireland 2040 Delivery Board at the Tallaght Innovation Quarter to see at first-hand a range of exciting and innovative projects that are being delivered under the NDP. It was important to see real life examples of the impact that NDP funding is having at local level.
“The overall level of capital funding is at an all-time high and is making a real difference to the lives of our citizens every day. I will continue to update the Government regularly on the progress we are making.”
ENDS