Ruairi Quinn (Dublin South East, Labour)

No. I will tell the Deputy what I believe and what I suggest he should do. The credibility of his exercise would be enhanced immeasurably if, as with our commitment to the National Pensions Reserve Fund, he committed, by way of legislation, to reaching the goal by a particular time. In this way, he and his successors would no longer be subject to the vagaries of the Department of Finance. This House and the Minister for Finance have no discretion regarding the requirement to put 1% of GDP per annum into the National Pensions Reserve Fund. Such a legislative provision is required to restore credibility regarding overseas development aid. The Minister of State can nominate any year he likes, as close to 2007 as possible, but a legislative commitment would make it realistic. I welcome the consultation exercise with the electorate but it should focus on how best to spend the money, not on the amount.

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