Tuesday, 15 May 2018

Questions (143)

Pearse Doherty


143. Deputy Pearse Doherty asked the Minister for Finance if already published fiscal space figure projections include the allocation of €500 million to the rainy day fund for each of the next five years; and if he will make a statement on the matter. [21139/18]

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Written answers (Question to Finance)

In Budget 2018, I announced my intention to capitalise the Rainy Day Fund with €1.5 billion from the Ireland Strategic Investment Fund.

The budgetary projections published last month in the Stability Programme Update 2018 (Table 8) include provision for €500 million to the Rainy Day Fund for each year from 2019 to 2021 (the end of the time horizon projected in the update).

My officials are engaged in the preparation of legislation to implement these proposals, and I expect to be in a position to advance this legislation in the near future.