Dáil Éireann - Volume 595 - 15 December, 2004

Written Answers. - Capital Programme.

  141. Mr. Timmins asked the Minister for Finance when the capital framework document which outlines the details of capital expenditure for the next five years will be published; the period for which this will be applicable; and if he will make a statement on the matter. [33593/04]

  Mr. Cowen: I announced the multi-annual capital envelope for the period 2005-09 on budget day. It provides for [822] total investment of €36.3 billion —€32.6 billion Exchequer and €3.7 billion PPPs. The following information is the relevant extract from the 2005 budget booklet.

The public capital programme, which sets out details of the current year’s public investment programme, will be published as is usual in February 2005.



Rolling five year multi-annual capital envelopes were introduced in budget 2004. The 2004 budget envelope covered the period 2004-2008.

The capital envelope comprises a mixture of Exchequer investment and Public Private Partnership — National Development Finance Agency capital funded annually by unitary payments from the Exchequer in the relevant Departmental Votes. The latter involves design, build and operate projects which will be delivered by public private partnership and financed either by the private sector or by the National Development Finance Agency.

A key element of the capital envelope arrangements is that they permit the carryover into the following year of unspent capital up to a maximum of 10% of voted capital.

Projects which are delivered by public private partnership and which are financed by user charges are additional to the envelopes.

The envelope in this budget covers the period 2005-2009. The 2005-2009 envelope allocates the unallocated reserve for 2005 included in the 2004-2008 capital envelope and rolls out the envelope to include capital provision for 2009 to reflect Government investment priorities for the five years ahead.

The capital carryover of Exchequer capital from 2004 into 2005 is €237 million. This is additional to the envelope provision for 2005. Including the capital carryover almost €6.3 billion Exchequer capital will be available for investment in 2005.

The Table at [Annex D] summarises by ministerial group the allocations under the capital envelope for the period 2005-2009, equivalent to maintaining investment at around 4.7% of GNP over the period. Total capital investment in the envelope will amount to €36.3 billion. The funding breakdown in the Table is:






Unallocated reserve of which:





[823] 36.3

Additional targets have been set outside of the envelopes of €1.2 billion over the period for public private partnerships funded by user charges.