Mairéad Farrell (Galway West, Sinn Fein)
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833. To ask the Minister for Education and Skills if the national training fund has ever been in deficit; if so, when; how this deficit arose; and if he will make a statement on the matter. [29928/24]

Niall Collins (Limerick County, Fianna Fail)
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Established by the National Training Fund Act, 2000, the Fund consists of a current account and an investment account. In accordance with section 2 of the 2000 Act, income and expenditure is channelled through the current account with any surplus transferring to the investment account and any deficit being transferred from the investment account. Subsection 2(12) of the Act allows for any shortfall in the Fund in a financial year to be met from moneys provided by the Oireachtas. However, the Fund has not been in deficit during its operation. Annual expenditure exceeded income on four occasions, in 2004, 2010, 2012 and 2014 and on each occasion the excess was met from the investment account.

Mairéad Farrell (Galway West, Sinn Fein)
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834. To ask the Minister for Education and Skills if he will identify the types of assets and asset classes, that the national training fund surplus is permitted to invest in; and if he will make a statement on the matter. [29929/24]

Niall Collins (Limerick County, Fianna Fail)
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Section 2 of the National Training Fund Act, 2000 provides for the Fund to consist of a current account and an investment account, with the Minister for Public Expenditure NDP Delivery and Reform having responsibility for the management and control of the investment account. Subsection 2(9) provides that investments can take the form of

(a) the application of moneys in the investment account towards the acquisition, holding or disposal of any rights or interests, direct or indirect, in any securities other than shares, or

(b) the placing of them in deposit accounts in any financial institution or the investment of them in short term financial products, such as certificates of deposit or commercial paper, issued by any person, in the currency of the State in or outside of the State.

As noted in the NTF Accounts, the surplus in the NTF is held in Exchequer Notes with the National Treasury Management Agency.