Pearse Doherty (Donegal, Sinn Fein)
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The Minister has addressed some of the issues concerning the draw down of funding in response to amendments tabled by Deputy Nash. The Bill does not specify what use would be made of the transfers from the fund from 2041 onwards. Is there a reason for that? We have discussed some of the demographic challenges in terms of ageing, particularly pensions and health ageing costs. I ask the Minister to give us his view.

Why is it not specified in the legislation? This says it can be used for any purposes. Will the Minister give the numbers to the committee, if it is okay, on projected drawdowns from the fund? It is stated it will not be greater than 3% of the net asset value of the future Ireland fund as it stood on 31 December of the previous year. Will the Minister give us details of what that would look like and also, if there were earlier drawdowns from the fund, what it would look like in that case? He has put two different years on the record, with figures of €3.5 billion and €2 billion, so if he could provide that information, we would appreciate it. What underpins that? Is it just the transfer of 0.8% each year, with no additional transfers, that is available under the legislation or no reduced transfers as well?