Brendan Howlin (Wexford, Labour) | Oireachtas source

I will begin where the Taoiseach ended. I welcome what I read in this morning's media, which has since been confirmed to the House by the Taoiseach, namely, the establishment of a new infrastructure fund of €200 million to bring unserviced sites into use for housing. I seek some clarity about the fund. Is this new money to be accounted for on or off-balance sheet?

The Taoiseach will recall the allocation last year of €400 million from the sale of Bord Gáis Energy for use in providing social housing. The difficulty with this proposal was that, under the Stability and Growth Pact and the fiscal parameters, we were unable to provide and spend this money without breaching the fiscal rules. Where stands this €400 million? Is it to be expended or is it still parked and not being brought into use?

See this speech in context