Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

As to where that money currently sits, an amount of money like that would sit on the State balance sheet. It is managed by the National Treasury Management Agency. On the question of what interest rate it has accrued for the State, given how low interest rates have been in recent years, I expect the interest benefits delivered to the State will have been very low across the period. The Deputy will be aware of the challenges we have in terms of translating once-off Exchequer gains into ongoing expenditure. For this reason, we proposed an alternative use, which I described to the Deputy. This involves making €10 million available per year for at least 20 years to allow the Department of Housing, Planning and Local Government to move forward on more housing projects.

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