Capital Expenditure in West must be increased – Rose Conway-Walsh TD

Sinn Féin TD for Mayo and spokesperson on Enterprise, Tourism and Employment, Rose Conway-Walsh TD, has urged the Taoiseach to increase capital expenditure on infrastructure projects along the Western seaboard.

Teachta Conway-Walsh said:

“Year on year spending targets for capital projects are missed.

“In 2021 the National Development Plan (NDP) set a target of 5% of Gross National Income (GNI) to be invested in capital projects for the period 2021-2030.  We know that this 5% target has not been achieved in any year. 

“In 2021 the NDP was underfunded by almost €1 billion. In 2022 it was underfunded by €2.2 billion, €2.3 billion in 2023 and €2.4 billion in 2024. 

“Moreover, budget alocations have not been adjusted to account for inflation.

“This underfunding has serious implications for infrastructure projects across the state, particularly in my own region in Mayo.

“The Western Rail Corridor hasn’t been completed, there is no rail connectivity to Knock Ireland West Airport and the government has failed to increase grid infrastructure to harness the potential of renewable wind energy on the Western seaboard.

“Water and sewerage treatment plants, such as the one in the town of Newport, have not been delivered and the chronic lack of housing is seriously impacting our competitiveness.

“Capital infrastructure spending has the power to generate prosperity.  In this period of global economic uncertainty, in parallel to negotiations with the US and EU administrations, the government must identify the shovel-ready projects along the Western seaboard that can protect us in the global turmoil and enhance our competitiveness for foreign direct investment, supporting real sustainable growth in our country.”