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Dáil
‹ Order of Business

Strategic investment fund legislation

Summary

Doherty seeks legislation establishing the strategic investment fund; the Tánaiste says its heads are approved and the Bill will be published this year.

Two items of legislation were promised but I will not ask about the first because the legislation for the strategic investment bank is not included in the Government legislation programme and I am not sure it will ever happen. The strategic investment fund was announced in August 2011, over a year and a half ago. To set up the strategic investment fund, we need legislation. Legislation has been promised and it appears as No. 87 on the Government legislation programme, Bills which have yet to be approved by the Government. The fund is the forerunner to the strategic investment bank, which is a major plank of the Tánaiste's election campaign. It is about tackling mass unemployment and mass emigration from the State. A year and a half later, it is appropriate to ask when we will see the legislation and when we will be able to see directed investment, as a result of the legislation, from the National Pensions Reserve Fund to the real economy. While we can do little bits in the meantime, the legislation is required. Will it be dealt with in this session or this year?

Comment on this

The legislation will be dealt with this year. The heads of the Bill were approved by Government on 16 April and the Bill will be published this year. The strategic investment fund is a critical pillar in the Government strategy to get the economy moving again, to get people into employment and to get investment into our country. We are proceeding with it.

Comment on this