Brian Lenihan Jnr (Dublin West, Fianna Fail)

A review of the National Pensions Reserve Fund was announced in my budget speech and has been completed by Mr. Maurice O'Connell, a former Secretary General of the Department of Finance and Governor of the Central Bank. I am studying the conclusions of that review and no decision has been taken on legislation to date.

On the issue of the possible use of the NPRF, I have indicated at all stages that the use of public funds should be a last resort in the context of investment in the banking sector. I welcome private investment in our banking institutions from whatever source.

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