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Launch of Medium Term Exchequer Investment Framework - Tánaiste Eamon Gilmore's speech
This is one of a series of announcements that are being made in the run-in to the budget.
Last week, in the Medium Term Fiscal Statement, we outlined the need to curtail capital spending by €750m in 2012.
We have done so after undertaking a through review of capital spending in all areas, looking at economic and social needs, and at how to make best use of available resources.
I want to compliment Minister Howlin and his Department of the work that they have done.
This is a clear and honest document that acknowledges that there are limited resources, but which is clear about what our priorities are as a Government
And they are Jobs, Schools and Hospitals.
Over the past decade, there has been a quantum leap in the quality of Irish infrastructure. And, of course, as result of the recession, the level of demand for infrastructure is less. Even so, this document sets out plans for a capital programme that is in line with European norms.
There will be people who are disappointed about individual projects, but we have to be honest and we have to be realistic.