Oireachtas Joint and Select Committees
Thursday, 3 April 2014
Public Accounts Committee
2012 Annual Report of the Comptroller General and Appropriation Accounts
Vote 11 - Office of the Minister for Public Expenditure and Reform
Vote 12 - Superannuation and Retired Allowances
Chapter 3 - Financial Commitments under Public Private Partnerships
Chapter 4 - Vote Accounting
Chapter 5 - Vote Budget Management
12:10 pm
Mr Robert Watt:
There are a number of aspects to the stimulus plan, including the €3.2 billion of Exchequer-funded projects such as school and health initiatives, energy projects and road maintenance projects, and then the larger PPP projects about which the Deputy spoke and with which he is familiar. On foot of the concessionary contract for the lottery, the Minister announced further projects on budget day. There is a regional spread to those projects. The Deputy is correct that the investment fund is €6.8 billion and was previously the National Pensions Reserve Fund, NPRF, which invested globally in property, equities and bonds. The new fund is managed by the NTMA with the involvement of the Department of Finance and the Department of Public Expenditure and Reform, but the latter is not the lead Department.