Thursday, 22 November 2018

Questions (51)

Jonathan O'Brien

Question:

51. Deputy Jonathan O'Brien asked the Minister for Finance if the rainy day fund codified in the National Surplus (Reserve Fund for Exceptional Contingencies) Bill 2018 could be used to recapitalise the banks; and if he will make a statement on the matter. [48650/18]

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Written answers (Question to Finance)

Under section 10 of the National Surplus (Reserve Fund for Exceptional Contingencies) Bill 2018, the only place to which a drawdown of the Fund can be made is the Exchequer. Any movement onward of funds for any purpose will be subject to the full rigour of the public financial procedures and will require a resolution of the Dáil.