State Investments

Dáil Éireann Debate, Wednesday - 7 December 2016

Wednesday, 7 December 2016

Questions (124)

Jack Chambers

Question:

124. Deputy Jack Chambers asked the Minister for Housing, Planning, Community and Local Government if investments, either directly or indirectly through pension or other investment funds, are held in tobacco companies by his Department, any agency within the remit of his Department, or any agency or entity in receipt of departmental funding; if his Department has any guideline on such investment; if his Department intends to introduce any policies or guidelines; and if he will make a statement on the matter. [39030/16]

Written answers

Minister for Housing, Planning, Community and Local Government

My Department’s Income and Expenditure is processed through Voted expenditure (Vote 34), which is managed by the Paymaster General’s Office. Guidelines on Exchequer investments are a matter for the Department of Finance.

My Department has responsibility for the Local Government Fund (LGF). The LGF comprises of two bank accounts and an investment account. The investment account is interest bearing and is invested in the Exchequer through the NTMA Exchequer Note Programme. I can confirm that this is not invested in tobacco companies.

Investments made by agencies under my Department’s remit are a matter for the agencies themselves. Pension investment funds are managed by the Trustees of the pension schemes operating in these agencies. There is no obligation on the agencies to report to my Department on the matter and investment funding policy generally is a matter for the Department of Finance.

Arrangements have been put in place by each Agency to facilitate the provision of information directly to members of the Oireachtas. The contact email address for each agency is as follows:

Agency	Email address
An Bord Pleanála	[e-mail]
Ervia, Gas Networks Ireland	[e-mail]
Housing Sustainable Communities Agency	[e-mail]
Housing Finance Agency	[e-mail]
Irish Water	[e-mail]
Irish Water Safety	[e-mail]
Local Government Management Agency	[e-mail]
Residential Tenancies Board	[e-mail]
Pobal	[e-mail]