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 Michael D'ArcyMichael D'Arcy (Wexford, Fine Gael) | Oireachtas source

I disagree. The benefit of having a representative democracy is that a future Oireachtas will have the opportunity to decide on the course it wishes to take in respect of this matter. If Sinn Féin forms part of the next Government and if the latter has a majority in both Houses and decides to change this legislation, that will be a matter for it. The Government believes that the correct and prudent thing to do is to allocate funding of €1.5 billion from the Irish Strategic Investment Fund. We are not currently spending that on housing. I do not hear the Deputy calling for that money to be spent on housing. If Sinn Féin goes into government in the future, it will be able to change the legislation if it has a majority in the Dáil and the Seanad. That would be a matter for it to decide. The Government believes this is the right and prudent thing to do and is in line with what is happening other jurisdictions.

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