Oireachtas Joint and Select Committees

Thursday, 28 March 2019

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach

National Surplus (Reserve Fund for Exceptional Contingencies) Bill 2018: Committee Stage

Photo of Jonathan O'BrienJonathan O'Brien (Cork North Central, Sinn Fein) | Oireachtas source

This brings us back to our earlier conversation. The section relates to the transfer of assets. We tabled a number of amendments on the use of the money. It is clear that we cannot use the money to deal with the crises we face today. In one of our amendments we sought to provide for increased levels of capital investment, which would have a direct, long-term, positive effect on society and the economy, to increase capital investment in social and affordable housing and to remedy or mitigate the impact of climate change and Brexit. However, all of our amendments been ruled out of order, presumably because either the Government does not want to use the fund for these purposes or it cannot be used for these purposes, something the Minister of State might clarify. We speak about exceptional circumstances, but surely Brexit, if it goes ahead, will be an exceptional circumstance. Surely the fact that the number of homeless persons has exceeded 10,000 is an exceptional circumstance. While it might not be an exceptional circumstance as defined by the Stability and Growth Pact, as a national crisis, it must be an exceptional circumstance, yet the Government will not allow us to use the fund for these purposes.

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