Oireachtas Joint and Select Committees

Wednesday, 31 May 2023

Committee on Budgetary Oversight

Sovereign Wealth Funds: Discussion (Resumed)

Photo of Gerald NashGerald Nash (Louth, Labour) | Oireachtas source

I understand. There is no point in having prosperity without progress. We have many capacity issues here. In some ways, that is because of our macroeconomic success and fiscal position. There are big deficits in our public services. We now have not a once-in-a-generation opportunity to get things right but probably the best opportunity we have had since the foundation of the State. The forecasts we have present us with the opportunity to do some pretty transformational things for the people of this Republic. These are opportunities we simply did not have in the past, so we need to get this right. Will Mr. Gjedrem point to one or two specific transformational things the fund has enabled Norway to do which it would not otherwise have been in a position to do were it not for the existence of the fund?

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