Oireachtas Joint and Select Committees

Tuesday, 1 July 2014

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance

National Treasury Management Agency (Amendment) Bill 2014: Committee Stage

8:50 pm

Photo of Fergus O'DowdFergus O'Dowd (Louth, Fine Gael) | Oireachtas source

I believe we all agree on what should happen. I believe Deputy Pearse Doherty accepts the commercial nature of the activities and that they must be off balance sheet. I suppose that economic activity and employment are one in the same thing in that it is really not possible to have one without the other given that jobs come about by creating economic activity. The clarity in the debate and the consensus which one continues to have here is very clear. The critical issues the Deputy raises are really the same on all sides - we all want the same thing and that is the purpose of the fund.

This is money that is coming home to be invested in Ireland. It is €6.9 billion that is invested abroad. All the issues relating to probity and the type of investment, clarity and transparency in terms of the investment type should be there.

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