Simon Harris (Wicklow, Fine Gael) | Oireachtas source

I share Deputy Sean Fleming’s view on mobile phone signals. Our constituencies must have similar terrain. It is a matter for the ISIF. The Minister, Deputy Noonan, has said time and again that we encourage promoters to come forward if they have a commercial proposition, regardless of whether it relates to the public or private sector. The ISIF is open for business and we need promoters. In our constituencies and communities, let us encourage people to come forward with propositions that may be commercially viable to be considered by the ISIF. The Deputy correctly highlighted the difference between the amount to which the ISIF has committed and the amount that has been drawn down so far. We should not necessarily see it as a bad thing. The ISIF is telling promoters of projects they have the green light for a certain amount of money. The companies or investors may not require the full amounts. They may source funding elsewhere or need less than originally thought, or it may take a long time to draw funding down.

On Deputy Paul Murphy's points, I accept the significant ideological difference on the matter. While we have different positions on the European rules, they were ratified by the people through the fiscal stability treaty and this is how we find ourselves here. Even if we did not, the Ministers, Deputies Noonan and Howlin, and the Government have made the right judgment call in terms of ensuring sustainable economic growth. The fund will be open to private and public options. The ISIF will determine the areas in which the connectivity fund will be invested. Given that the proceeds came from the sale of a State asset in the transport sector, we thought it appropriate to dedicate these funds to enhancing connectivity within and for the State. While the ISIF will continue to develop and refine the definition, a working definition for the initial stage of deployment is "a connectivity or those that enhance, develop or sustain the physical and virtual connectivity of Ireland as an island nation". The fund will be used to support connectivity projects including domestic and international connectivity. Connectivity would be broadly defined and taken to include traditional transport projects such as ports and airports but would also take a wider definition of connectivity to include examples such as data and energy connectivity.