Oireachtas Joint and Select Committees

Thursday, 22 June 2023

Committee on Budgetary Oversight

Fiscal Assessment Report: Irish Fiscal Advisory Council

Photo of Mairead FarrellMairead Farrell (Galway West, Sinn Fein) | Oireachtas source

Of course, the concern would be that if the money is to be raided at some point because of an economic downturn, there would be an impact on what it is actually designed to do. We see that now. That is why we are having this conversation.

My other question relates to establishing a sovereign wealth fund, SWF, or whatever you want to call it. The IMF points out that, when establishing that, there will be risks associated with merging it with other types of funds, such as stabilisation or development funds. There is the risk of muddying the waters with funds that have very different reasons for existing or with different types of asset allocation and risk appetites. In terms of the kinds of investments they engage in, they should not all be all under one, singular management. Do the representatives have a view on that?

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