Return of the National Pension Reserve Fund

Cllr Anthony Kelly has commended the Fine Gael/Labour coalition for finding the long lost National Pension Reserve Fund. The Wexford Sinn Féin rep admitted that it was a pity they had relocated it only to purchase water meters for their ill-conceived water tax instead of putting the money towards a stimulus plan.

“It's amazing that our government have managed at last to lay their hands on the elusive National Pension Reserve Fund,” Cllr Kelly said. “How long have we been told that there are no investable funds left in this trust? Now, when money is needed to purchase water meters that will do nothing to aid either the Irish people or the state in the long term, the government managed to sum up the needed funds.”

“What a pity they could not have accessed these funds to invest in the Irish people as Sinn Féin has called for over the past number of years. Why was this funding not made available for the national roll out of next generation broadband? Sinn Féin called for the investment of the €2.5 billion needed for this project which could have taken Ireland to the top of the broadband league and would have increased our attractiveness for high tech jobs. The government said funding was not available for such a project but they were able to immediately find the 450 million needed to finance the purchase of water meters.”

“Last year Sinn Féin put forward a number of progressive measures based on using money from the national pension reserve fund to stimulate the Irish economy. We proposed the construction of 100 schools at a cost of €300 million and the refurbishment of 75 more at a cost of €50 million over the next 3 years. We proposed the building of 150 additional state run crèches at the cost of €335 million. These proposals were ignored by a government who would rather invest in water meters than in the future of its own people. Now we see where the priorities of this regime truly lie.”