Taxpayers to plug €267m Fás pension deficit

FÁS has a massive €267 million hole in its pension fund which will now have to be paid for by the taxpayer under rules introduced last year to guarantee semi-state pension pots.

Fine Gael, which is discussing plans to close down the agency if it’s in Government, said this was an example of “another bailout” that the taxpayer could do without.

The party has indicated it will abolish 150 quangos, including Fás and the HSE, in plans that will be unveiled in a policy paper later this month.