The government have asked every department to prioritise every capital spending project over €10million in order of priority as projects face delays of up to 3 years as capital spendng looks set to take the brunt of government cutbacks. The SBP say they have seen the government memo.
Seems a bit strange to be cutting capital spending. I can understand the need to be prudent but at time of recession to cut back on government investment is poor judgement.Originally Posted by kerrynorth
What do you expect of this FF govt, which shows no understanding of economics?
RIRA not in my name-Traitors to Ireland MMcGuinness; People are entitled to cultural & social equality MLMcDonald; We have a length to go understanding unionism GAdams
They should have been told to prioritise when they drew up their spending plans. Capital spending is no different to current spending in that it can be good or bad. Back in the good old days, Haughey's govt. claimed to have spent £40 million on renovating the old college of science building in Merrion St. They spent the £40 million but the value of the building did not increase by anything like that amount, now we know how it was done. Some of the motorway and rail plans can be scaled back without impacting on productivity, there are need to have and nice to have projects.
If engineers were wrong as often as economists, would anyone fly aeroplanes?
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