The Government has agreed revised capital allocations totalling €2.25 billion out to 2026 as part of The National Development Plan (NDP) 2021-30 published in October 2021 set out €165 billion of funding to support capital projects across the country.

As set out in the Summer Economic Statement (SES) 2023, an additional €2.25 billion was made available to be allocated in the 2024 to 2026 period.  This funding will facilitate the progression of important projects and enable more rapid development of key Programme for Government commitments, such the delivery of actions to fulfil our climate action plan commitments, the provision of more housing and enhanced education facilities.

On announcing the finalisation of the NDP ceilings process, the Minister for Public Expenditure, NDP Delivery and Reform, Paschal Donohoe said: ‘I am pleased that the Government has today agreed to the allocation of additional funding of €2.25 billion for the National Development Plan up to 2026. This builds on the existing funding already available under the NDP and it will mean more schools, housing, transport and healthcare projects can be progressed and delivered for our people’.

Following the conclusion of a series of bilateral meetings which took place from January to March between the Minister for Public Expenditure, NDP Delivery and Reform, Paschal Donohoe and his Ministerial colleagues, the distribution of the additional €2.25 billion across Departments has now been agreed.

The additional allocations of capital funding to 2026 will support key projects and programmes under the NDP such as:

• Further delivery of immediate Public Transport projects such as Dart+, BusConnects and Cork Commuter Rail;
• Additional investment in the Social and Affordable Housing programmes;
• Further delivery of Student Accommodation through Universities;
• Additional Acute Hospital Beds (over 1,500 beds already funded);
• Enhanced biomethane investment (in addition to ReCoverEU funding);
• Regional labs investment and additional veterinary provision;
• Upgrading of embassies abroad;
• Funding the Level of Ambition 2 programme in the Defence Forces;
• Public and Private Sector Retrofitting;
• Enhanced Prison Service Provision and investment in Garda Capital; and
• Further investment in the Local Improvement Scheme and Community Recognition Fund.

Individual Ministers and Departments will provide detailed information on the projects or programmes that will be supported by the updated capital allocations to 2026.

I have worked very closely with my Ministerial colleagues over the past two months to reach agreement on the best way of distributing the additional funds. I believe that the allocations announced today strike a fair balance between the many competing demands that were made to me. The NDP is ambitious, with record levels of investment and today’s announcement will contribute in a significant way to the delivery of sustained growth and prosperity for our country”, the minister said.

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