Seanad debates

Thursday, 13 October 2005

11:00 am

Photo of John Gerard HanafinJohn Gerard Hanafin (Fianna Fail)

From May 2006 to April 2007, €15 billion will enter the economy as a result of the maturation of SSIAs. If one adds this figure to the €2 billion that would have been invested in SSIA products, one sees that it is approximately 12% of GDP entering the economy in very short period. Will the Acting Leader ask the Minister for Finance to come before the House to discuss what will be done to ensure that an orderly transfer of this money takes place so that the economy does not overheat and that people get value for money in products or services? At different times, the Central Bank would have increased interest rates to ensure that inflation would not have occurred. We must now plan for the period to which I refer and I ask that the Minister come before the House with proposals on how to deal with the entry of this money into the economy.

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