Fianna Fáil get signals crossed on Capital Plan

“Fianna Fáil’s assessment of the Capital Investment Plan as “long on aspiration and short on detail” is symptomatic of their failure to understand and appreciate the detail of the Plan”, says Fine Gael TD for Dublin Fingal, Alan Farrell.

“Fianna Fáil’s Sean Fleming seems to have missed the point in relation to the investment outlined in the Plan. The Capital Plan announced €27 billion of exchequer investment. Deputy Fleming has claimed that this has a private sector investment component. His claim in this regard is simply untrue as this €27 billion of exchequer funding is just that – exchequer funding. In fact, if private investment is included, Deputy Fleming will find that €42 billion in investment is planned.

“The Plan announced the development of the Government’s PPP programme with about €500 million of projects. As always non-exchequer and private sources will be needed to fund these projects up front; that’s the essence of what a PPP involves and it is misleading for Deputy Fleming to suggest otherwise.

“Over the six year period of the Plan, €14.5 billion will be invested in capital projects.  This will principally be undertaken by commercial state-owned companies. This is normal capital investment by the various State bodies and if a party who were in Government for fourteen consecutive years cannot understand this, it is clear that they remain unfit for office.

“Fianna Fáil seems disappointed that they cannot criticise the Capital Investment Plan for being over the top. Instead it’s the same old Fianna Fáil who have opted to confuse and complain; as always with no ideas of their own.

“This plan is very different to capital plans announced under Fianna Fáil because it is affordable, responsible and consistent with the plan to eliminate Government borrowing by 2018 and to promote regional economic growth, jobs and future recovery. Unfortunately, it seems that Deputy Fleming does not let the facts get in the way of a good press statement.”