Oireachtas Joint and Select Committees

Wednesday, 29 November 2023

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach

Finance (State Guarantees, International Financial Institution Funds and Miscellaneous Provisions) Bill 2023: Committee Stage

Photo of Jennifer Carroll MacNeillJennifer Carroll MacNeill (Dún Laoghaire, Fine Gael) | Oireachtas source

I thank the Chair for highlighting that and I am more than happy to answer his very reasonable question. Sections 3 and 6 are very alike and use some of the same structure and format in terms of legislative drafting. This Bill is the overall enabling provision for how the funds may be used for the future. Obviously, in terms of legislative drafting, the words "may" and "shall" are very different things. "May" is enabling and "shall" is a requirement. Because this overarching piece of legislation is enabling, it then creates an opportunity for the Minister who, within the terms of the legislation which of course will theoretically have been passed by both Houses of the Oireachtas by that point, may then execute the provisions of the Bill, rather than shall execute them. They really only are the two options in terms of drafting. This Bill gives the Minister the opportunity to do that for the future. The Minister may then execute part of the Bill.

What I would say, in terms of oversight, is that the Minister must lay the order prescribing the contribution agreement between the State and the EIB before the Houses of the Oireachtas as soon as possible, and the House may annul that order within 21 sitting days of the order being laid. It is also a requirement, not an option, for the Minister to lay the report before Dáil Éireann for each reporting period, outlining the aggregate amount of payments. That is a requirement, not a possibility, for the Minister. Of course, it is available to this committee or other committees to have a debate or discussion in relation to that. They are the oversight provisions within the Bill once the Bill has passed.

In response to Deputy Durkan, he is quite correct to point out the political challenges in Europe that make decision-making very difficult. I suggest that is one of the reasons why we need decisions on Ukraine funding in a strong way, not just from this State but from the EU. As we look at the global political headwinds, I think it is even more important than ever that the EU has taken a really strong position on funding Ukraine at this point at the beginning of 2024.

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