Funding the public capital programme

Summary

The Minister said next year’s funding sources would be disclosed around budget time and that the Government was considering various possibilities. Asked about fears of raiding semi-State pension funds, he declined to address the implication and said details of an investment plan would be announced soon.

John Horgan Mr. Horgan Labour Party

asked the Minister for Finance if he will identify the sources from which he expects to fund the public capital programme next year.

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Michael O'Kennedy Mr. O'Kennedy Fianna Fáil

The financing of next year's public capital programme will as usual be published around budget time next year. It is not the practice to disclose such information in advance of this time.

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John Horgan Mr. Horgan Labour Party

Is the Minister aware of fears that the Government intend to raid the pension funds of various semi-State organisations to finance the public capital programme next year? Will he ensure that the Government will not raid these funds about which various potential beneficiaries are in dread?

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Michael O'Kennedy Mr. O'Kennedy Fianna Fáil

I will not respond to the implications in the Deputy's queries. I have already indicated to the House that the Government will look at a variety of possibilities, including an investment plan, the details of which will be announced very soon.

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