Simon Harris (Wicklow, Fine Gael)
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I thank Deputy McDonald. Nobody has a monopoly on concern for this group. As the Deputy correctly noted, many Members of the Oireachtas have interacted with members of this group, who find themselves in an extraordinary position, one that nobody in the House wants them to be in, as a result of the failures of a pension scheme in a commercial company. However, we must also be honest in the debate on what we are doing today. The sale of Aer Lingus has concluded and the funds generated from it have been with the Exchequer since August. It is now 7 October and we are discussing how these funds can be expended in the interests of the country.

It is also important to state, as part of an honest debate about any of the challenges citizens face, including deferred pensioners, how one would solve the problem, because, as I indicated in my opening statement, the fiscal rules for which people voted mean we are limited to a fiscal space of a maximum of €1.5 billion in the budget. If we were to expend any of the €335 million that we are choosing to invest in the ISIF for investment, rather than creating further fiscal space, it would simply reduce the amount available to the Government, resulting in additional expenditure of €1.65 billion. It would not be new or additional money. It is not as if we have an option of spending the €335 million on any form of current expenditure. It must be spent in the manner we have proposed. That is the rationale behind this proposal.

We are reliving some of the issues that were debated during the sale of Aer Lingus. My colleague, the Minister for Transport, Tourism and Sport, Deputy Donohoe, had a number of significant interactions on this issue. My objective is to work out how we can put this sum of €335 million to work for the country.