The Cabinet will sign off on €100 billion worth of capital spending this morning.
Ministers will also be briefed on the Summer Economic Statement ahead of the budget.
The National Development Plan review won’t take any projects out of the existing plans out to 2030 but will add in some €30 billion in extra spending – funded largely from the Apple Tax money and AIB share sales.
That money will be directed towards housing, MetroLink, water and electricity infrastructure while some €100 billion in funding for capital projects beyond 2030 will also be planned.
The big question on that front is, how will the Government pay for it?
While surpluses have been a regular feature of recent budgets, there’s no guarantee the public finances will stay in rude health, and today’s summer economic statement will be a good indicator of the coalition’s plans for the budget.
We know one-off cost-of-living spending will be slashed in favour of longer-term capital projects, but the question that can’t be answered today is what will happen on August 1st after Trump’s tariffs deadline – when best-laid plans could go up in smoke.
