Oireachtas Joint and Select Committees

Wednesday, 12 July 2023

Committee on Budgetary Oversight

Summer Economic Statement 2023: Discussion

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein)
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Turning to the long-term savings vehicle, the Minister outlined that he wanted to address the longer-term challenges the State will be facing arising from having an ageing population, demographics and health issues. The Minister has departed from this position. I understand he is now talking about two different funds. One would be a capital fund. The other would be what the Minister had initially intended. This is a welcome departure. We need a catch-up investment plan. Regarding the two funds the Minister is now talking about, has he any estimation, and I am not asking him to give me the numbers, in respect of where he sees the sizes of these funds relative to each other. Does he see them as equal? Does he see one as a small fund and one as a large fund? Is this something on which he can elaborate?