Terry Leyden (Fianna Fail)

When one reads the details of the investments made by the fund in companies like Coca-Cola; Fox Entertainment, which is a very good one; BSkyB, in which it has invested €8.2 million; and Microsoft, in which it has invested €47 million, it is clear that it has made some very good investments. There might be questions about the fund's decision to invest in certain companies, like Imperial Tobacco, but it should be borne in mind that the fund is independently managed. The fund has to make the right decisions. If one examines some of the investments made by the churches — I do not refer to the Roman Catholic Church — one will find they are also investing in some dodgy operations as they try to raise funds.

I compliment the Minister, Deputy Cowen, and the Government on their handling of this fund. I compliment the work of Dr. Michael Somers and everyone else involved in the organisation of this fund on doing their work so well. I hope the House will endorse the motion that has been placed before it by the Fianna Fáil Senators.