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

I have said on the record a number of times that there is nothing wrong with paying down debt. Many of our citizens, who could afford to do so, did it throughout the economic crisis. Many businesses have also taken the opportunity to deleverage. This issue came up last year when the State sold a stake in AIB. The Minister for Finance should at least have some flexibility such that the government of the day could decide that a better use of the proceeds, or some of the proceeds, would be to put them towards investment in the economy. A new ten-year investment plan will be published shortly. If a government were to make that decision and wished to use at least some of the proceeds, would it have the discretion and flexibility to do so without being in breach of the fiscal rules? That is my central question. I am looking to establish whether the Government has opened up any channel with the European Commission on how one-off proceeds may be used without breaching the fiscal rules.

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