Fianna Fáil Transport Spokesperson Timmy Dooley has criticised the Government for a sustained attack on capital spending in its 2012-2015 fiscal plan released today, describing it as “lacking a vision of investment in Ireland’s future.”

Deputy Dooley said: “The distinct lack of detail released today does not bring about the certainty the Government has been promising citizens in recent weeks.  In particular a sustained reduction in capital spending proves that this Government lacks any commitment to investing in Ireland’s infrastructure and preparing Ireland for an up-turn in the global economy.

“The €1.4bn cut in capital spending over course of the plan is significant.  The reduction next year will be €750m, €550 in 2013 and a further €100m cut in 2014.

“There is no doubt that there has been a significant reduction in capital spending in recent years.  This was necessary to help correct a significant imbalance in the State’s finances however it is important to recognise that capital spending can only be reduced so much.

“To a degree the Government has taken the easy political choices here. Major infrastructure projects such as Metro North have the capacity to bring about thousands of jobs and improve Ireland’s economic and competitive position.”