John Connolly (Galway West, Fianna Fail)
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155. To ask the Minister for Finance for an update on the implementation of the Programme for Government objective to build up the two long-term savings funds in preparation for fiscal challenges including demographic changes, climate resilience and dealing with future shocks; and if he will make a statement on the matter. [39407/25]

Paschal Donohoe (Dublin Central, Fine Gael)
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In response to the need to prepare for future costs and to avoid permanently increasing public spending based on potentially transient taxation revenues, the Government established the Future Ireland Fund (FIF) and the Infrastructure, Climate and Nature Fund (ICNF) in June 2024.

The FIF is designed to support, in a consistent and sustainable manner, State expenditure in 2041 or any year thereafter. This is intended to partly fund the future costs for Ireland associated with structural challenges including ageing, decarbonisation, and the digital transition.

The ICNF seeks inter alia to provide a fiscal buffer that can be deployed to support Government expenditure in the event of a downturn in the economic or fiscal position of the State, while also supporting the State’s climate objectives.

To date, over €13 billion has been transferred to the FIF and ICNF, with an additional €3 billion expected to be transferred in the second half of 2025.