Since 2008, capital of over £11 billion has been invested in Northern Ireland public services. A further £8 billion is to be invested by 2021. This investment has enabled improvement to our roads, public transport, healthcare facilities, schools and libraries, water and waste water treatment facilities and telecommunications. As well as improving public facilities, capital investment across the public sector supports many local businesses and protects private sector jobs.
In Northern Ireland, the Programme for Government, sets out the Northern Ireland Executive’s (the Executive’s) priorities and identifies the actions necessary to address them. Priority 1 - relating to ‘Growing a Sustainable Economy and Investing in the Future’ sets the context for the Executive’s Investment Strategy (ISNI): a rolling 10 year plan outlining future investment in major capital projects across Northern Ireland.
The Ministerial Statement on the 2016-17 budget acknowledged that, although the Executive was agreeing a budget for a single year, funding certainty over a longer time period was necessary for some capital projects. The Executive identified seven flagship projects as its highest priority and allocated funding over a longer period to facilitate their delivery. Total investment for these projects, over the period from 2016-17 to 2021-22, was estimated at just over £1 billion.
Our report will:
- Provide a list of all capital projects with an estimated, or actual, cost of in excess of £25 million approved, funded or completed over the period from 2011 to date (to match the current Investment Strategy for Northern Ireland);
- Consider the adequacy of arrangements and structures in place within the public sector to deliver major capital projects;
- Identify the full range of funding mechanisms used to finance major capital projects; and
- Report on the progress of a selection of major capital projects. Our selection will include the seven flagships projects together with a number of other projects which have encountered delay/cost overruns.
We plan to publish our report by 31 March 2019.