Harris set to add further €1bn to Future Ireland Fund
Finance minister Simon Harris is expected to tell Cabinet that investing in the fund is a “vital step” in protecting future generations from economic shocks and rising costs. Picture: Clodagh Kilcoyne/PA
The Government will invest an additional €1bn in its Future Ireland Fund next year under plans to be discussed by Cabinet today.
Tánaiste Simon Harris, who returned from paternity leave yesterday, will tell ministers that the total allocation to the fund in 2027 will be €5.8bn.
The fund was set up in 2024 to build a buffer to deal with future financial costs associated with an ageing population, demographic change, and other pressures from 2041 onwards.
The Tánaiste is expected to tell Cabinet that investing in the fund is a “vital step” in protecting future generations from economic shocks and rising costs.
He will also say that putting money aside now will help ensure those generations are not left to “shoulder a financial burden that could have been avoided”.
The additional €1bn will bring the total amount in the Future Ireland Fund to €22.77bn by the end of 2027.
The Tánaiste will also update Cabinet on several reforms in relation to Home Building Finance Ireland (HBFI), including allowing it to provide “targeted lending” to small builders to finance residentially zoned land at the pre-planning stage.
Education minister Hildegarde Naughton will ask Government to note that the Forum on Inclusive Education for Students with Special Educational Needs has been established, with its first meeting taking place in November.
It will bring together stakeholders to develop a “shared vision” for inclusive education and identify practical actions to support students with special educational needs.
Professor Noel Purdy has been appointed chairman of the forum, which, it is hoped, will help shape the next phase of policy development to ensure every child and young person is supported to participate fully in education.
Public expenditure minister Jack Chambers, meanwhile, will update the Government on plans to close the 1923 Contingency Fund.
The fund was established with a £20,000 pot for unforeseen emergencies, and has not been used in 22 years.
It will now be wound down, with its €1.2m balance returned to the exchequer.
Mr Chambers will also ask the Government to note progress in encouraging State agencies to accelerate the transfer of State land for critical infrastructure.
To date, five site transfer cases have been escalated by ESB Networks for resolution through the Joint Utilities and Transport Clearing House.
Under the Accelerating Infrastructure Action Plan, State bodies are obliged to co-operate in making land available and accessible for critical infrastructure.
The department wrote to all departments in March and requested that State bodies ensure land is available to utilities.
It applies to transport, water, and energy infrastructure projects, as well as any other projects designated by Government as critical infrastructure.
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