Select Sub-Committee on Finance debate -
Tuesday, 1 Jul 2014

Business of Select Sub-Committee

Chairman

I call the meeting to order. Apologies have been received from Deputies Alan Farrell and Michael McGrath. I welcome the Minister of State with special responsibility for the NewERA project, Deputy Fergus O'Dowd, and his officials. The purpose of this meeting is to consider the National Treasury Management Agency (Amendment) Bill 2014 on Committee Stage. The Bill was referred to the select sub-committee by Dáil Éireann on 29 May 2014.

I understand the Minister of State must be in the Dáil Chamber at some stage.

Minister of State at the Department of the Environment, Community and Local Government (Deputy Fergus O'Dowd)

The Ceann Comhairle has instructed that I must attend.

Chairman

What time is this to happen?

Deputy Fergus O'Dowd

My private secretary will give me five minutes' notice.

Chairman

I will suspend the meeting at that time. Given the weather we could discuss tropical issues. I believe Deputy Deasy wishes to speak.

Deputy John Deasy

This will not take long and I appreciate this opportunity to give notice that I will table amendments on Report Stage. Their substance concerns Part 6 of the Bill, relating to the Ireland Strategic Investment Fund. In essence, I seek to ensure this fund takes account of balanced regional development. When the fund is in place via legislation the agency administering it should pay due attention to the different factors that influence balanced regional development. That is to say, account must be taken of where money from the fund goes over time. This would be done through the annual report and the reporting stipulations in the legislation.

My other amendments are similar in that they allow Ministers a nexus to ensure balanced regional development results from the fund.

Chairman

Is that agreed? Agreed.