Robert Troy (Longford-Westmeath, Fianna Fail) | Oireachtas source

I move amendment No. 20:

In page 27, between lines 16 and 17, to insert the following:“(4) The Ireland Strategic Investment Fund (ISIF) shall be required to report on an annual basis the direct and indirect employment and economic impact of its investments.”.

As we all know, the Bill is about facilitating the transfer of the remaining balance of €6 billion left in the National Pensions Reserve Fund into job stimulus projects. While it is very important given our high unemployment and emigration, it is important we have very clear and measurable outcomes and set reasonable targets and benchmarks regarding how these targets will be achieved. We want any investment to be done in a very open and transparent manner. It cannot be invested in particular Ministers' constituencies or pet projects or used as a political slush fund. The IDA can clearly state, if it is supporting a company in Athlone for example - unfortunately it does not support any companies in Mullingar, so I have to use Athlone as an example - that it is investing a certain amount of money and supporting a certain number of jobs. The amendment is to ensure investment is made in a very measurable, clear, open and transparent way to ensure we know we are getting value for money.