THE GOVERNMENT IS finalising plans to inject up to an additional €30bn into Ireland’s infrastructure between 2026 and 2030, and to spend €200bn overall on capital expenditure over the next decade.

Fianna Fáil Minister for Public Expenditure, appearing on RTÉ’s This Week radio programme today, said that the plan is to be published on Tuesday, and that the coalition party leader met last night. 

“This really gives an opportunity for transformational investment within the Irish economy. 

“Over the next five to 10 years we’ll be providing up to €30bn in additional capital expenditure… that’s for the National Development Plan, the roads, the schools, the health infrastructure, and the homes that are critical to ensuring Ireland’s prosperity and growth over the medium term,” Chambers said. 

He said that the plan will also present a long term commitment to €200bn in capital investment, which he said will help to “bridge the infrastructure deficit” we have in the country. 

He was questioned on where an additional €10bn has come from, as before today it was expected that the figure would be an additional €20bn, rather than the thirty that has been announced. 

Chambers said that of the additional €30bn, ten is being set aside for “specific strategic investment”, and that the money will be “ring fenced for our grid, our water infrastructure and also the necessity to provide that medium to long term funding for the metro project, as an example.” 

He said that while the Government was making these plans it didn’t want to see the likes of public transport and road infrastructure competing for funding.

Chambers said that the purpose of the plan being announced this week is to provide “funding certainty” which has been an issue “in the last number of years”. 

Chambers said that the Government is not planning to publish its new housing plan until Autumn time, as part of the National Development plan.

Responding to Mary Hanafin’s comments about how it would be a “disgrace” if Fianna Fáil didn’t run an election candidate in the presidential race, Chambers said that the party is engaging on the matter “internally” and that it will set out its position “in the early autumn”. 

He also said that he is not aware of any engagements between Fianna Fáil and the former Chief Medical Officer of Ireland Tony Holohan on a potential presidential bid.