Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

I move amendment No. 1:

In page 4, between lines 10 and 11, to insert the following: "(2) Dáil Éireann may, on a proposal by the Minister brought before that House, pass a resolution authorising the amount of assets referred to in subsection (1)to be altered.".

Amendment No. 1 relates to the overall cap, which is set at €8 billion. Could the Minister of State explain the rationale underpinning the cap? How was the figure of €8 billion arrived at? The amendment provides that the Minister shall have the option of bringing a proposal to the Dáil and that it may authorise a change in the amount. What I have in mind is that it could be increased or reduced. Giving the House a say in some degree of flexibility regarding the quantum and the cap relating to that fund would be very useful. Could the Minister of State indicate why he arrived at the figure of €8 billion? I hope he will accept the amendment.