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Written Answers — Department of Justice and Equality: An Garda Síochána (25 May 2023)

Pearse Doherty: 41. To ask the Tánaiste and Minister for Justice and Equality the number of gardaí assigned to Gaeltacht regions; the number assigned to each station; the number who are fluent in Irish; the same number with respect to each, in each year since 2009; and if he will make a statement on the matter. [25301/23]

Written Answers — Department of Finance: Tax Exemptions (25 May 2023)

Pearse Doherty: 130. To ask the Minister for Finance if he is aware that VAT is applied to the directive charitable donations of goods; if it is possible to introduce a VAT waiver on such donations to support households in the context of the high cost of living, reduce waste and support the circular economy. [25459/23]

Written Answers — Department of Finance: Departmental Data (25 May 2023)

Pearse Doherty: 132. To ask the Minister for Finance the annual median earnings in each of the years 2019, 2020, 2021 and 2022. [25476/23]

Written Answers — Department of Housing, Planning, and Local Government: Planning Issues (25 May 2023)

Pearse Doherty: 175. To ask the Minister for Housing, Planning, and Local Government if he is aware of individuals who have unsuccessfully applied for their land, with respect to land that is being actively farmed, to be re/de-zoned from residential zoning but have been unsuccessful, and are now subject to the residential zoned land tax; and if he will make a statement on the matter. [25427/23]

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

Pearse Doherty: On the specific issue though, the UN has identified 112 companies that are operating in breach of international law in the occupied territories. ISIF invests in nine of those. Has this come up at board level? Is ISIF going to make a decision now to withdraw its investment from those companies or will it be the case that we, as legislators, need to pass a law to direct ISIF to do that?

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

Pearse Doherty: I am going to move on to the broader wealth funds. We are all conscious of what is happening in regard to Palestine, the oppression and illegal occupation of its territories. Generally, and I do not propose to speak on behalf of people throughout the State, but I think there is a message here. Not in Our Name. Taxpayers' money should not be invested in companies that operate illegally in...

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

Pearse Doherty: I thank Professor Kinsella for his presentation and his opening remarks. I would like to tease out his thinking about this. When he talks about drawdown from the fund after a period of time, is he talking about drawdown from the interest or the return that is generated from the investment or is he talking about drawing down some of the capital that was invested?

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

Pearse Doherty: I thank Professor Kinsella for that clarification. So the fund is earmarked for ageing. In his opening statement, Professor Kinsella said the cost of ageing can be identified as pensions but pensions constitute just a portion albeit the larger component but it is not the majority component. Health, long-term care and education are also factors and the cost of those three areas combined...

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

Pearse Doherty: I am looking at the report of ageing from the Department of Finance, which refers to the period up to 2050. I mentioned a 30-year horizon. The report puts pensions at 7.5% of GNI*, healthcare at 5.1%, long-term care at 2.4% and education at 3.2%. Even if we project it out to 2070, pensions would be the largest component, but the other three components are actually greater than pensions.

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

Pearse Doherty: Yes, cumulatively.

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

Pearse Doherty: They are the largest single one.

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

Pearse Doherty: But they-----

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

Pearse Doherty: If we could follow the Norwegians, let us have it. The point I was going to make is that their interest is massive because their fund is huge.

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

Pearse Doherty: We would settle for living off the interest if we could have their fund. Obviously, there are two different things that can happen in terms of the surpluses. The surpluses are of such a scale that, of course, we need to establish a sovereign wealth fund. However, it needs to be not like the national reserve fund, which is invested in short-term notes but does not have any return...

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

Pearse Doherty: I will move on to my next question. Earlier, Professor Kinsella gave five choices in terms of Government allocation. The reality is that the Government is likely to do maybe three of them, with some of it going into a sovereign wealth fund and some into additional capital spending. Possibly the worst decision would be to reduce the national debt. Given the interest rates on our national...

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

Pearse Doherty: I agree with everything Professor Kinsella has said. If I did not make myself clear, I am not suggesting a €90 billion fund would invest in the Irish economy. I believe the fund has to be diversified. The question is whether a portion of the fund can be invested in the Irish economy. Were ISIF to scale up to €20 billion or €22 billion, I do not think anybody would say...

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

Pearse Doherty: The other argument concerns the revenue costs in terms of job opportunities created by opening up a region or through the investment in a hospital. Where a hospital is running at crisis point, it is inefficient, costly and is sending stuff out to the private sector. People get sicker and undergo more complicated and costly operations. If we are running efficiently, in theory it should be...

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

Pearse Doherty: Professor Kinsella has given us a lot of food for thought. I ask him to discuss what he envisages to be the future for the national reserve fund. In case I did not convey my view, I believe that catch-up capital is required, which means it does not go into the fund and there is a role for investing in the domestic economy. How do we invest now to ensure we are secure in the next ten to 15...

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

Pearse Doherty: We had this conversation 20 years ago.

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

Pearse Doherty: So we know where the economy ended up.

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