Wealth fund should focus on international markets, says Oireachtas committee

Corporation tax receipts for the year stand at €14.4bn, which is still higher than last year but significantly behind what had been anticipated.

The Oireachtas Committee on Budgetary Oversight said the proposed wealth fund should have “strict regulation and limitations” on what it can invest in.

An Oireachtas committee has recommended that the Government create a sovereign wealth fund which would be used solely to invest excess corporation tax receipts in markets outside of Ireland.

In its report into the proposal for a sovereign wealth fund, the Oireachtas Committee on Budgetary Oversight said the proposed wealth fund should be underpinned with legislation that sets “strict regulation and limitations” on what it can invest in.