The Minister for Finance Paschal Donohoe has confirmed that the Government will put aside €500m a year in funding for the next three years as part of a increase the country’s capital spending.
Mr Donohoe who unveiled the plans earlier today has said the Government have decided to partially earmark the funding in order to facilitate the rebuilding Ireland’s infrastructure over the coming years ahead.
The new Finance Minister also announced that the remaining €500m of the investment will be placed into the state’s rainy day fund.
It is understood that the Government plan to have an extra €1.5bn for Capital spending by 2021 with the allocation of extra funds beginning in 2019.
Speaking to RTE this morning Mr Donohoe said that the Government is committed to providing a stable future for Ireland and he believes that by allocating the funding for both the rainy day fund and capital spending will go a long way to achieving that goal.