Michael Bell
Question:10 Mr. Bell asked the Minister for Finance when the State claims agency will be established; if he envisages a role in the new agency for the NTMA; and if he will make a statement on the matter. [22704/99]
Other Questions. - State Claims Agency.
As already announced, the Government decided that the function of a State claims agency should be assigned to the NTMA. The heads of a Bill to amend the National Treasury Management Agency Act, 1990, to enable this to be done are with the parliamentary drafts man. I hope it will be possible to publish the amending legislation by early next year.
The purpose of this question is to elicit when the Minister will take action on this decision, which has been announced. The decision to set up a State claims agency was made by the previous Government. Will the Minister accept there has been a substantial delay in introducing the legislation required to progress the matter and that this type of legislation is rarely given priority but is, nonetheless, of considerable importance?
Deputy McDowell should liaise with his party leader and my predecessor regarding a State claims agency. The former Minister for Finance expressed an interest in setting up a State claims agency under the auspices of the National Treasury Management Agency. I agreed with him and since I became Minister for Finance I have endeavoured to progress it, but as the Deputy's party leader will tell him, while he and others in the previous Administration were well disposed to it, it took him some time to progress the idea. It has taken me some time to further progress it, but recently I was able to announce that the heads of a Bill are being drafted and the Bill should be before the House before the end of this year or early next year. I have laboured long and hard – like the Deputy's party leader – to get this done.
Has the Minister considered removing some of the functions of the NTMA ?
No.
We must proceed to the next question.
I wish to ask a supplementary that will require only a "yes" or "no" answer.
The Deputy must be brief.
Has the Government decided to give the NTMA the power to maintain and manage the pension funds, which it is committed to setting up?
A decision on that has not yet been made. The are further questions tabled on related matters. At a press conference announcing my proposals in this regard, I indicated that I saw an advantage in the NTMA having a role in this area, but that is a matter for further consideration which will be decided before the Bill to set up the pension funds is published next year.
As Question No. 11 has been withdrawn, we will proceed to Question No. 12.