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Committee on Budgetary Oversight: Business of Select Committee (24 May 2023)

Gerald Nash: I thank colleagues for the vote of confidence they have expressed in me. We have received apologies from Deputy Matthews. I propose that we go into private session to deal with some housekeeping matters. Is that agreed? Agreed.

Committee on Budgetary Oversight: Sovereign Wealth Funds: Discussion (24 May 2023)

Gerald Nash: I welcome our guests from the National Treasure Management Agency, Mr. Nick Ashmore, director of the Ireland Strategic Investment Fund, and Mr. Ian Black, chief financial and operating officer. Before we begin, I will go through the formalities and explain some limitations to parliamentary privilege and the practice of the Houses as regards the references witnesses make to other persons in...

Committee on Budgetary Oversight: Sovereign Wealth Funds: Discussion (24 May 2023)

Gerald Nash: I thank Mr. Ashmore and Mr. Black. According to the rota, our first contributor should be a Fine Gael Deputy but there are none present or available online. I will turn to Sinn Féin and Deputy Doherty.

Committee on Budgetary Oversight: Sovereign Wealth Funds: Discussion (24 May 2023)

Gerald Nash: A Dáil vote has been called so we are going to have to go to the Chamber at this point in time and formally close the meeting for now. We will return.

Committee on Budgetary Oversight: Sovereign Wealth Funds: Discussion (24 May 2023)

Gerald Nash: The next contributor is Deputy Conway-Walsh.

Committee on Budgetary Oversight: Sovereign Wealth Funds: Discussion (24 May 2023)

Gerald Nash: I thank Deputy Conway-Walsh and Mr. Ashmore. I have some questions as there is nobody else online who is waiting to come in. Regarding the fund size, the ISIF fund size was €9 billion if I am correct, and accumulated returns to mid 2021 based on the last annual report of €2.1 billion. The 2022 annual report would be expected very shortly, I think in July. I do not expect Mr....

Committee on Budgetary Oversight: Sovereign Wealth Funds: Discussion (24 May 2023)

Gerald Nash: The performance of ISIF since it was established in 2014 is impressive by any measurement. I received figures from the NTMA last week in a reply to a parliamentary question to the Minister for Finance. Yearly performance in 2014 was +5%, which at the time was good, +10.7% last year. We can anticipate that it will be lower than 10.7% on the basis of-----

Committee on Budgetary Oversight: Sovereign Wealth Funds: Discussion (24 May 2023)

Gerald Nash: The best year since ISIF was established.

Committee on Budgetary Oversight: Sovereign Wealth Funds: Discussion (24 May 2023)

Gerald Nash: On housing, the last time I met Mr. Ashmore was in Drogheda at a significant event in the context of capital investment and the enabling housing piece. ISIF is involved in an arrangement with the Housing Infrastructure Services Company and others to fund critical infrastructure to enable the development of several thousand new homes on the north side of Drogheda, one of the fastest growing...

Committee on Budgetary Oversight: Sovereign Wealth Funds: Discussion (24 May 2023)

Gerald Nash: That might be the direction of travel here. We are speaking in a bit of a vacuum because the policy decision has not been taken, and I know Mr. Ashmore is constrained by that. In terms of his knowledge of the kinds of funds that were anticipated here, how they might be developed and the kinds of arrangements involved in how they operate, we want to guard against any excessive withdrawal...

Committee on Budgetary Oversight: Sovereign Wealth Funds: Discussion (24 May 2023)

Gerald Nash: I thank Mr. Ashmore and Mr. Black for their contributions. It is the start of a process in terms of our interrogation of the question of sovereign wealth funds and where we go from here. We appreciate their contribution. I have no doubt we will be hearing from them again at some point soon. I thank them for taking the opportunity to be with us this evening. It is appreciated. I will...

Written Answers — Department of Health: Health Services (24 May 2023)

Gerald Nash: 196. To ask the Minister for Health if any financial support or HSE schemes are available to Irish citizens for a specific treatment which is available in the UK (details supplied); and if he will make a statement on the matter. [25079/23]

Written Answers — Department of Employment Affairs and Social Protection: Social Welfare Benefits (23 May 2023)

Gerald Nash: 497. To ask the Minister for Employment Affairs and Social Protection if she is aware that separated couples who have divided responsibility for childcare across a given week are currently caught in a situation where neither party is deemed to be entitled to the working family payment, despite the children being entirely dependent on both parties; if she has plans to address this unfair...

Written Answers — Department of Employment Affairs and Social Protection: Social Welfare Eligibility (23 May 2023)

Gerald Nash: 498. To ask the Minister for Employment Affairs and Social Protection if, in the light of the changing shape of the Irish family, her Department has plans to review the eligibility criteria for family-based social protection payments; and if she will make a statement on the matter. [24988/23]

Written Answers — Department of Finance: Departmental Data (18 May 2023)

Gerald Nash: 212. To ask the Minister for Finance the annual return on investments made by the Irish Strategic Investment Fund for each year since its establishment; and if he will make a statement on the matter. [23902/23]

Written Answers — Department of Transport, Tourism and Sport: Road Safety Authority (16 May 2023)

Gerald Nash: 239. To ask the Minister for Transport, Tourism and Sport if he will provide an update on any progress the RSA has made since it closed the temporary driving test centre in Drogheda on the identification of a site for a new temporary centre and/or a site for a permanent centre in the town; and if he will make a statement on the matter. [22844/23]

Written Answers — Department of Education and Skills: Schools Building Projects (16 May 2023)

Gerald Nash: 333. To ask the Minister for Education and Skills when the new school building project for a school (details supplied) will commence; the timeline for completion of the project; and if she will make a statement on the matter. [22750/23]

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Budget Process (11 May 2023)

Gerald Nash: We know why the self-imposed general expenditure rule was imposed last year, that is, to take account of the high inflationary environment. The reality is that, for much of this year, inflation will be above that 5% target in terms of the Government's self-imposed expenditure rule. The Minister of State will appreciate the context of the macroeconomic success that this country is...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Budget Process (11 May 2023)

Gerald Nash: One particular point that the Minister of State made, and that he and his colleagues will consistently remind us of, is the once-off measures that were introduced to help families and businesses deal with the cost of living crisis, but the active point there is “once-off”. We know that our social welfare system is not indexed either to wage rises or increases in the cost of...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Budget Process (11 May 2023)

Gerald Nash: 2. To ask the Minister for Public Expenditure and Reform if he plans to exceed the 5% expenditure rule in the context of budget 2024; and if he will make a statement on the matter. [22365/23]

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