Oireachtas Joint and Select Committees

Wednesday, 28 May 2025

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

Developments in the Economy in the Year to Date: Minister for Finance

2:00 am

Photo of Paschal DonohoePaschal Donohoe (Dublin Central, Fine Gael)

That is the risk, and that is what we are trying to prevent. The reason we are setting up all these funds, in particular the Future Ireland Fund, is that if we were hit with a downturn that would materially affect the tax we are collecting, we would have a fund available to us to help with the funding of capital investment. That is, in retrospect, at the heart of so many of our difficulties. Capital investment fell for so long. We were trying to avoid even harder decisions in respect of current spending when our country was insolvent. All that happened was the build-up of cost in the future. That is what we are trying to do with these funds.

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