asked the Minister for Finance if his Department, in conjunction with the Department of the Taoiseach, has had or proposes to have discussions with the pension fund managers of all or any of the pension funds of the State-sponsored bodies with a view to channelling the pension fund income into specific investment projects as indicated in the investment plan published by the Government in January 1981; and if he will make a statement on the matter.
Ceisteanna—Questions. Oral Answers. - Pension Funds Income.
5.
My Department have had discussions with a range of financial interests, including some institutions that manage various pension funds, on the possibility of their participation in the financing of public sector investment projects in the Government's Investment Plan 1981. The Deputy will understand that it would be premature at this stage to make any statement on the matter.
Is the Minister satisfied, in view of the fact that discussions are at such an early stage and that he is not therefore prepared to give us any information, that the projects will have reached the stage where the money which he claims will be spent, £200 million, will be spent?
I am so satisfied. The Deputy will appreciate the delicate nature of the subject we are discussing with regard to arrangements with various institutions and groups. Obviously, I cannot at this stage make any further statement.
I should like to ask the Minister whether, for instance, in the case of buildings, the working drawings and other arrangements in relation to the placing of contracts are yet in train in view of the record of delay which has occurred in the Office of Public Works in these matters where the State is providing the money. Is the Minister satisfied that all arrangements are now made in these respects so that as soon as the financial details are worked out work can start immediately?
At no stage have I referred to whether or not there would be an involvement of the Office of Public Works. In other words, the Deputy need not have any apprehensions about this.
The State will have to approve of the working drawings. It is not possible to have a telephone exchange built which is not to specification.
I have given the Deputy a lot of latitude. We must move on.
Questions Nos. 6, 7, 8 and 9 postponed.