Victor Boyhan (Independent) | Oireachtas source

I welcome the Minister of State. I will be brief.

First, I thank the Minister of State for his speech on the National Surplus (Reserve Fund for Exceptional Contingencies) Bill 2018. I thank him for his clarity on what is the central tenet of this legislation. As the previous speaker, Senator Horkan, stated, it is timely. It is prudent. It is the right thing to do. It is a wise decision. When we boil it all down to the micro level, would we not all like to be in a position to do that in terms of our personal finances on a much smaller scale? It is relevant and it is right, and it is the prudent thing to do.

We are conscious of the fiscal advisory council's cautions in the past few weeks, particularly in the past week. I will not rehearse that here, but it is a gentle and constant reminder that we all must be prudent and keeping an eye on the ball regarding the nation's finance.

I support the Bill. It is important. It includes a significant capping of €8 billion. I wish the Minister of State every success and that we have a clear passage and get this vital legislation through the Houses.