Oireachtas Joint and Select Committees

Wednesday, 22 November 2023

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

General Scheme of the Future Ireland Fund and Infrastructure, Climate and Nature Fund Bill 2023: Discussion

Mr. Oliver Gilvarry:

The amounts are lower. We are setting an amount of €2 billion to go into that from surpluses from 2025 on. Contributions will end in 2030. It would be a similar process - if there is a significant downturn, contributions will end. On that basis, if there is a significant economic downturn, the ICNF more than likely will be utilised. The whole aim of it is to support the NDP and keep it going so we do not end up with a backlog of projects, particularly projects where we may not have put the shovel into the ground.

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