Barry Ward (Dún Laoghaire, Fine Gael)

It is very important to acknowledge the importance of these funds. The Minister mentioned demographic change. We know a crisis is coming in terms of the shift from those who are working to those who are retired and how the working population here will have to support those people. I want to put on record my support for and acknowledgement of the importance of these funds and the fact that they will be here in 16 or 17 years time to deal with whatever difficulties the economy might face at that point.

I note the National Reserve Fund transferred to the Future Ireland Fund last year. The National Treasury Management Agency is responsible for the management of these funds. How are they managed? How close an eye is kept on them on a day-to-day basis by the Department? Can the Minister say anything about where those funds are or how he anticipates they will develop over the next 16 to 17 years?

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