John Paul Phelan (Fine Gael)

The Minister of State has missed the point of the amendment. We are not proposing that the new agency tells the national pensions reserve fund where to put its money. The amendment would allow the use of public funds by the NDFA. Different Government agencies are involved and it is logical that there should be contact between the National Development Finance Agency and the pensions fund when there is such an infrastructural deficit and the economic situation has changed in recent years.

This is not telling the national pensions reserve fund where to put its money. It is a mechanism to allow for this wording to be inserted in the Bill whereby funds could be put to use by the NDFA.