Skip to main content
Normal View

Rainy Day Fund

Dáil Éireann Debate, Thursday - 24 October 2019

Thursday, 24 October 2019

Questions (64)

Michael McGrath

Question:

64. Deputy Michael McGrath asked the Minister for Finance if a decision has been made on the €500 million intended for the rainy day fund in 2020; if he still plans to invest €500 million in the rainy day fund in 2020; if not, if the €500 million forms part of the €1.2 billion Brexit package; and if he will make a statement on the matter. [43989/19]

View answer

Written answers

I have decided that there will be no transfer of €500 million from the Exchequer in 2020 to the National Surplus (Exceptional Contingencies) Reserve Fund (the Rainy Day Fund). The €500 million of Exchequer funding not being transferred to the Rainy Day Fund will remain as Exchequer cash balances and therefore will be used to meet the Exchequer funding requirement, such as for public spending priorities including any Brexit related spending. 

For information, I should set out that this year I will be transferring the previously earmarked €1.5 billion from the Ireland Strategic Investment Fund (ISIF) to the Rainy Day Fund.

Top
Share