Seanad debates

Thursday, 14 November 2002

Rail Services and Related Transport Matters: Statements.

 

In the context of the proposed cut backs or adjustments, we should consider the fact that we are spending £1 billion per year on foreign shares as part of the national pension reserve fund. We should look at the possibility of putting in place a Government bond system through which people could purchase bonds, the money from which could then be invested in infrastructural development. If we did this, we would be planning ahead and there is no doubt that we would obtain a return on our investment. When the Minister is negotiating with the Minister for Finance in the coming weeks, perhaps he could put forward my suggestion which might provide one solution to the shortfall in the public finances.

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