Projects to be funded from proceeds of the National Lottery sale announced

On 2 October, it was announced that more than €400 million is set to be generated from the sale of National Lottery licence, with €200 million of that ear-marked for the construction of the National Children's Hospital. This is part of Government’s efforts to diversify its funding sources to support infrastructure delivery. In his Budget 2014 speech, the Minister for Public Expenditure and Reform, Mr Brendan Howlin TD announced the additional projects to be funded from the remainder of the proceeds of the sale will be used to fund a number of local schemes.

These projects are in addition to the capital spending announcements such as the PPP programme that have taken place throughout the year. They are small in scale and prioritise employment creation. The projects have high domestic employment content per euro invested ratios.

The new schemes announced in Budget 2014 include:

Road Maintenance;
Wild Atlantic Way – Driving Route;
Enabling infrastructure for the Irish Maritime and Energy Resource Cluster (IMERC);
Large scale multifunctional events centre in Cork;
National indoor training arena at the National Sport Campus;
Sport capital grants;
Better energy programme;
Unfinished Housing Estate Resolution Pilot Project;
Targeted but limited social housing construction programme;
Private house grants for older people and people with a disability;
National – City of Culture initiative;
1916 Commemoration Projects;
The traditional skills and buildings at risk jobs leverage scheme;
Book Rental Scheme for Primary Schools.

Premier Lotteries Ireland, a consortium comprising Ontario Teachers Pension Plan (the owner of the Camelot Group), An Post and An Post pension funds, was designated the preferred applicant for the next National Lottery licence which will be in place for a 20 year period. Premier Lotteries Ireland has met the Essential Requirements and has submitted the highest Licence Fee proposal which is €405 million. The Licence Fee will be payable in two equal instalments, the first on signature of the licence in December and the second on commencement of the licence scheduled for October 2014.

Thursday, 17 October 2013