Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

This is potentially a very positive development and I have a few questions on it. I assume the principle of retaining the NPRF remains and the Government will continue to have non-discretionary portfolios consisting of shareholdings in banks, for example. When the Minister refers to any returns from these commercial investments going back into the fund, is he talking about the strategic investment fund or the NPRF? It would be helpful to clarify that.

Will the Minister give us a sense of the governance arrangements that will apply to the Ireland strategic investment fund? Who will make the investment decisions? Will the Minister or the Government have a role in that or will it be adjudicated upon by an independent board under the aegis of the NTMA? For example, if the Government was convinced of the merits of a motorway between Cork and Limerick, and there was co-investment by the private sector, could it be ensured that it would happen? Will the decisions be political or will they come from the NTMA?

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