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

Will the Minister clarify my first question? Will the NPRF be retained into the future and is the principle of providing for the long-term pension liabilities of the State still being subscribed to? Are returns from commercial investments drawn from the NPRF money to be returned to the NPRF?

The Minister says that the ISIF will decide on which projects can proceed on a commercial basis but, in practice, who will that be? Will there be a separate board of the ISIF sitting within the NTMA? At what point does the Minister expect that the first commercial investments of the fund can proceed? He hopes to have the legislation enacted by the end of this year so I presume it would the first half of next year before investments could begin.

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