Brendan Keenan: Repeating costly army bagel scandal difficult to swallow
We need value for money on major projects but analysis of capital spending leaves a lot to be desired
Published 13/11/2011 | 05:00
HIGHER political risk. That was the phrase used by Public Expenditure and Reform Minister Brendan Howlin in a memo to Cabinet colleagues, seen by the Irish Independent, in which he appeared to argue for deeper cuts in capital spending.
No doubt, given his job, in other memos he will have to argue for cuts in current spending, saying the political risk is outweighed by the financial necessity of reducing deficits.
It does damage the lofty view of capital spending as a scientific allocation of resource to maintain productive capacity of existing infrastructure and add to potential growth and the welfare of the community.