Seanad debates

Thursday, 21 November 2002

Book of Estimates, 2003: Statements.

 

Senator Ross mentioned the pension fund. One should be slow to react to the Senator, but not only were his comments about the Opposition unfair, they were also inaccurate. He implied that the Opposition was only now suggesting that we raid the fund, never having made any comment about it earlier. I made it clear before the fund was even set up that the Labour Party did not feel that this was to be the priority in spending for the next 25 years and that we would not be bound by this. We always reserved our position. In addition, we have never suggested raiding the fund. What we suggested was that some of the annual contribution could be used in a different way. To be specific, at the last general election we suggested that it be directed towards the health capital budget. We have never suggested touching the capital within the fund.

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