Lisa Chambers (Mayo, Fianna Fail)
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89. To ask the Minister for Education and Skills the details of the human capital fund announced in budget 2019; the way in which this scheme will operate; when it will be operational; and if he will make a statement on the matter. [42596/18]

Joe McHugh (Donegal, Fine Gael)
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A new Human Capital Initiative has been announced by my Department as part of budget 2019. This initiative will involve substantial investment of €300m over the 5 year period 2020-2024, with €60m being made available in each of those years. This investment will be funded through the National Training Fund (NTF) surplus.

The aim of this initiative is to provide targeted funding to meet the skills and enterprise needs of the economy and respond to Brexit and other challenges facing our economy. These needs are being identified through the operation of the detailed framework now in place under the National Skills Council. It will also reinforce the achievement of key regional development objectives set out in the National Development Plan and Project Ireland 2040.

My Department officials and I, will work closely with the proposed new oversight arrangement with a view to launching a competitive call for new courses in Q.2 2019 that are aligned with the key objectives of the new fund.