THE GOVERNMENT TODAY announced plans to spend €116 billion on a host of items from roads to schools to hospitals. While the spending is huge, many are questioning just where the money will come from and whether the funding is ringfenced. The plan commits €115.9 billion in total of capital spending between 2018 and 2027 and the plan says it will mostly come from Exchequer funding – that is money raised through general taxation. €91 billion will come directly from the Exchequer, while €24.9 billion will come from the dividends of state-owned commercial companies.
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