Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

I agree with everything Professor Kinsella has said. If I did not make myself clear, I am not suggesting a €90 billion fund would invest in the Irish economy. I believe the fund has to be diversified. The question is whether a portion of the fund can be invested in the Irish economy. Were ISIF to scale up to €20 billion or €22 billion, I do not think anybody would say that would crowd anybody out. There is scope for that. Should it be completely non-domestic or is there a role here for it?

The national reserve fund should not have a function any more. It should all be part of the same fund and invested in the future. There were always problems with the national reserve fund because the drawdown is tricky and can only be done for three purposes. The point I was making was not to have the whole fund focused on the domestic economy, but on whether to restrict it from investing a portion into that economy or not.