Seán Fleming (Laois-Offaly, Fianna Fail) | Oireachtas source

I thank the Ceann Comhairle for the opportunity to speak on this important, historic budget. I acknowledge the excellent contribution we have just heard from the Minister, Deputy McEntee.

The first issue I want to deal with is one that missed everybody in their alleged objective commentary on this budget where they gave the impression that we were just spending money all over the place. The first thing about this budget that people must remember is that this Government has established the Future Ireland Fund and that is where we put extra funds for the projection of future investments. We have also created the Infrastructure, Climate and Nature Fund. Combined, those two funds alone will provide substantial funding put away, not to be touched for current expenditure, to deliver major capital projects that are needed, be it for housing, for industry, for infrastructure.

In addition, the €14 billion from Apple has been clarified. Rather than making a big splash announcement yesterday - some people wanted to spend that money yesterday - we have said, "No." We will look at it carefully and hold it until we know the objectives can be achieved. The Government is determined, over the coming months and early in the new year, to come back to this House with an outline and a framework for investing the capital that we are receiving as a result of the Apple decision. It is not for day-to-day spending; it is for investing in our future. We will look at projects that can be delivered in a reasonable time. We will make sure we get value for money. We want to make sure it adds to existing plans and that projects will have an economic impact. When we put all those funds together, we will be looking at measures that help housing. That means we have to start with water infrastructure. There is not a county that is unaware that housing projects are being held up because of lack of water infrastructure, ESB connections to the grid and other key essential items. That is what this fund is for. It is so we can have resources in place that if there is a downturn at some stage in the future, we have this fund put aside. The first thing the Government did, which everybody seems to have missed, was make provision to put aside a lot of money that we have now but are not spending now because we need it for investment into the future.

See this speech in context