Tommy Broughan (Dublin Bay North, Independent) | Oireachtas source

When will legislation be brought forward for the rainy day fund? I understand the Cabinet took a decision on that, even though, at the Committee on Budgetary Oversight, the Minister could not give us any indication of the purpose of this fund and whether it is to be an emergency fund, a counter-cyclical fund or otherwise. Many of us believe in sovereign wealth funds and the NTMA doing what it has to do to restore our basic savings and pensions fund. However, many, and I am one of them, are totally opposed to a rainy day fund in 2019, given fiscal space is so tight. We need to have a full debate about putting aside over €1.5 billion in such a short period.

I agree strongly with Deputy Howlin in regard to his comments on the Road Traffic (Amendment) Bill and the Judicial Appointments Commission Bill. What has been happening in recent weeks is damaging the legislative process and damaging the reputation of this House. We have had a long debate and we are into voting mode on the Road Traffic (Amendment) Bill. We should set aside a specific time for that Bill and get it finished, and then deal with the Judicial Appointments Commission Bill in the way Deputy Howlin has said.

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