Róisín Shortall (Dublin North West, Labour)
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Question 216: To ask the Minister for Finance if the impending shortfall in the social insurance fund has been factored into his calculation for the shortfall between Exchequer revenue and spending in 2009; and his estimate of the amount that the Exchequer will be contributing to the fund in 2009. [12244/09]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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Projections for the position of the Fund in 2009 will be finalised in the preparation of the forthcoming Supplementary Budget. I would however point out that as the Deputy will be aware, the Social Insurance Fund derives its revenue in the first instance from PRSI inflows which are paid direct to the Fund and do not form part of Exchequer receipts (though they would of course be taken into account in calculating the General Government Balance). Thus the Exchequer position for 2009 would only reflect Fund transactions in circumstances where a subvention from the Vote is needed to maintain the Fund in balance. During 2009, the Fund will have a substantial operating deficit reflecting the worsening labour market conditions. However, the accumulated surplus of the Fund built up over several years can be called upon in the first instance to address the operating deficit. At 1 January 2009, the accumulated surplus stood at just over €3.4 billion.