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 Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

Obviously, we do not want the investment in areas such as China. However, the commitment that was withdrawn or scaled back is supposed to be revisited as part of the spending programme for next year. I know this provision is included because the assets are outside the State and they need to be freed up in terms of cash and being able to be reinvested. However, the legislation does not prevent us investing outside the State, including on projects such as the A5. How does that marry in with section 39(1) which provides that they be invested on a commercial basis in a manner designed to support economic activity and employment in the State?

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