Sean Barrett (Independent) | Oireachtas source

I move amendment No. 15:

In page 43, between lines 2 and 3, to insert the following:"(5) The Minister shall notify directions to make investments under this section to the Oireachtas Committee on Finance, Public Expenditure and Reform.".

This amendment concerns the provision whereby the Minister, following consultation with the Central Bank, can direct the agency to make certain investments. Subsection (4) provides that the agency shall comply with such a direction. I am always nervous of directions in this regard. The one I have in mind is the new airport terminal which was issued by direction to then compel airport prices to rise by 44% in order to pay for it in retrospect. I am seeking that, in order that Ministers do not direct projects and force the agency to comply, there should be some parliamentary participation, hence the reason I included the Oireachtas Committee on Finance, Public Expenditure and Reform. I am uneasy about directions with which people have to comply, even if the agency states that all its advice is that a particular project is not a good one, one can be compelled under subsection (4). I suggest a useful stopgap would be to run it through the Oireachtas committee to assist in better decision making. It arises from the fear that the ability to issue directives can lead to spectacular waste of money. There is an anti-democratic element in it also.