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Spending Cuts

Capital spending cuts to be unveiled today

Several major projects are expected to be set aside as €750million is cut from the Government’s capital budget.

SEVERAL MAJOR CAPITAL projects are expected to be set aside when the Government announces details of its expenditure programme for the next four years later today.

It’s expected that other infrastructure works will be deferred as €750million is slashed from the Government’s capital budget. The cut accounts for one-third of the entire €2.2million spending reduction ministers are looking to achieve in next month’s Budget.

The axe is expected to finally fall on several high-profile transport projects, including the Metro North link to Dublin Airport.

The Government announced yesterday that it will withdraw its funding for the Monaghan-Derry road, which was pledged as part of a cross-border agreement in 2006.

Eyes will also be on the planned National Children’s Hospital on the Mater site, which is one of the State’s largest capital projects, and the long-planned prison development at Thornton Hall.

The full announcement on the Medium Term Exchequer Framework 2012-2016 is expected at around midday.

Read more: Govt to withdraw funding for Monaghan-Derry road>

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