Thursday 22 February 2018

Let's stop spending too much money on vanity projects we don't need

There's welcome news of a return to capital spending - but we need to ditch the feast-or-famine approach, writes Colm McCarthy

Future: One way to avoid overheating and a new construction bubble is to exclude low-priority schemes, in Dublin or anywhere else, from the new capital plan
Future: One way to avoid overheating and a new construction bubble is to exclude low-priority schemes, in Dublin or anywhere else, from the new capital plan

If you have forgotten the 2018 Budget already, you can be forgiven. Current spending across all government programmes will rise by just 3pc next year, which should make you wonder what all the fuss was about.

Bigger increases will come on public investment and have yet to be revealed - the Government has committed to a multi-year capital plan to be published before Christmas.

Next year capital spending will rise by 17pc and there will be further substantial increases thereafter, but the detailed list of projects must await publication of the plan.

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