The Government’s expenditure on infrastructure will increase by €550 million with most of the money coming from the release of €500 million from the Capital Services Redemption Account, Mr McCreevy said in his Budget speech today.
The extra €550 million in capital spending will be spent on roads, public transport, housing, water services, waste management, education, health, harbours and telecommunications infrastructure.
Total exchequer capital investment next year in roads alone will be €1 billion, with over €450 million being invested in public transport.
Total exchequer capital spending on housing in 2002 will be almost €1.1 billion while capital funding for education - to build and refurbish schools and third level colleges - will amount to some €560 million.