Oireachtas Joint and Select Committees
Wednesday, 5 July 2023
Committee on Budgetary Oversight
Sovereign Wealth Funds: Discussion (Resumed)
Rose Conway-Walsh (Mayo, Sinn Fein) | Oireachtas source
I thank Mr. McGann for his statement. I apologise that he was kept waiting for so long. In the future-proofing document, the Department stated, "In 2019, the Government established the National Reserve Fund; the objective was to provide sufficient funds to mobilise counter-cyclical fiscal support in the event of a severe economic downturn."
Does the National Reserve Fund face any limitations in terms of its use for the counter-cyclical expenditure in response to an economic slowdown or shock? What are the limitations around the pension reserve fund?
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